W.R. Grace Emerges From Bankruptcy

BALTIMORE (AP) — W.R. Grace, a chemical company based in Columbia that was forced into bankruptcy because of asbestos-related lawsuits, has emerged from Chapter 11 protection.

The company posted on its website Monday that its reorganization plan had gone into effect. The company had filed for bankruptcy in 2001.

The asbestos lawsuits alleged that people in a Montana town were killed or sickened by exposure to asbestos dust that came from a former Grace mine.

The Daily Record reports that the reorganization plan involves two trusts to compensate people who say they were injured by asbestos.

Grace employs more than 1,000 people in Maryland.

(Copyright 2013 by The Associated Press. All Rights Reserved.)

Comments

More From CBS Baltimore

Tune In To The Grammys On Feb 15!
Track Weather On The Go With Our App!

Listen Live