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reports and thoughts on legal issues, music, Orthodox Christianity and/or whatever else strikes my interest

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Location: Houston, Texas, United States

My name is David Stone. I live in Houston, Texas. I am a 30-something single white male. I am an Orthodox Christian and am a member of an English-language parish of the Russian Orthodox Church Outside of Russia (ROCOR).

Monday, April 07, 2008

W.R. Grace Agrees to Settle Asbestos Claims

W.R. Grace & Co. has agreed to settle all asbestos-related personal injury claims pending against the company.

This article from the Wall Street Journal has the details.

As the article states:

"The Columbia, Md., specialty-chemical company agreed to put $250 million into a trust fund that will distribute the money among people who were injured by exposure to asbestos contamination from Grace's products. Grace also will make payments to the trust amounting to $1.55 billion from 2019 to 2034, and issue warrants for the trust fund to acquire 10 million shares of Grace's common stock for $17 each."

A press release on the settlement from the company can be found here.



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