WR Grace deal falls through

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WR Grace deal falls through
2006-08-05
WILMINGTON, Del. - An attempt to broker a deal between W.R. Grace & Co. and its asbestos creditors failed, bankruptcy lawyers said last week.David Bernick, lead bankruptcy lawyer for the specialty chemical company, said it had decided not to negotiate further when asbestos-claim lawyers offered nothing for shareholders.W.R. Grace, of Columbia, Md., filed for Chapter 11 protection in 2001 in an effort to resolve liabilities stemming from products containing asbestos.Earlier this year, U.S. Bankruptcy Judge Judith Fitzgerald appointed a mediator to attempt to settle differences between W.R. Grace and lawyers for people with asbestos-related diseases and property damage. .
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