At one point, the Grace chapter 11 appeared to be more of a trial of the asbestos litigation industry than a bankruptcy case. Halfway through the hearing on these issues, however, the asbestos committee (whose previous estimates of long-term trust liability reached as high as the $7 billion range), agreed to a deal providing only $3 billion of funding. Grace has received praise for the settlement and for the hard-line approach that led to it. Still, as Kirk Hartley notes, significant objections to the reorganization plan built around the settlement remain.
W.R. Grace Chapter 11
- "Attorney fee-only" bankruptcy plans
- The problem of the special master
- Romney is right about the auto bailout
- Asbestos litigation and search-engine optimization
- California rejects tertiary asbestos liability in O'Neill v. Crane
- Madison County's controversial asbestos litigation system under fire yet again
- Ohio union vote
- What's in the water in Wisconsin?
- Congressional hearing on asbestos fraud
- "CSX claims racketeering in Pittsburgh law firm's legal tactics"
- Around the web, June 18
- Around the web, June 13
- $322M verdict for phantom asbestosis
- Around the web, March 16
- Around the web, February 13
Center for Legal Policy at the