W.R. Grace Says Bankruptcy Plan Approval Delayed Until January
W.R. Grace & Co., the chemical maker that has operated under bankruptcy protection since 2001, said the judge overseeing its reorganization may approve the plan in January, a month later than the company had expected.
U.S. Bankruptcy Judge Judith Fitzgerald told Grace at a recent status conference that she expects to rule on the reorganization plan next month, the Columbia, Maryland-based company said today in a statement. Fitzgerald told Grace in October that she was aiming to rule by Dec. 31.
Grace filed for bankruptcy protection in Wilmington, Delaware, to resolve more than 100,000 health claims related to asbestos products. The company makes petroleum-refining catalysts and construction chemicals.
The bankruptcy case is In re W.R. Grace, 01-1139, U.S. Bankruptcy Court, District of Delaware (Wilmington).
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