W.R. Grace & Co., in bankruptcy since 2001, has reached an agreement with federal regulators from several government agencies that gives the United States a $34 million general unsecured claim and a $2.3 million top-level priority claim to cover environmental cleanup costs. The agreement would settle W.R. Grace’s responsibility for the cleanup of 33 contaminated sites in Wisconsin, South Carolina, California, Maryland, Pennsylvania, Kentucky, Utah, Illinois, New York, Texas, Michigan, Colorado, North Dakota, Connecticut, Washington, Minnesota and New Jersey. The settlement will also provide funds for an investigation by the Agency of Toxic Substances and Disease Registry (a sister agency of the CDC) of mesothelioma and other asbestos-related diseases caused by W.R. Grace’s vermiculite mining operation in Libby, Montana. Both W.R. Grace and some of its executives are under criminal indictment related to the asbestos contamination of Libby, Montana. W.R. Grace claims that its assets will cover all debts in the bankruptcy court, and hearings will begin soon to determine what W.R. Grace owes all the people who have developed mesothelioma and other asbestos-related diseases caused by W.R. Grace’s asbestos products.
For the full story, go to http://www.billingsgazette.net
