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People & Business :: Companies

W.R. Grace expects bankruptcy exit by end of January

December 12, 2013 | Vincent Valk

W.R. Grace says the company is targeting an exit from Chapter 11 bankruptcy on or about 31 January 2014, general counsel Mark Shelnitz told investors during a conference call today. The exact date of emergence depends upon when the US Third Circuit Court of Appeals rules on the final remaining appeal to the company’s reorganization plan. The appeal relates to the amount of interest to be paid on Grace’s prebankuptcy bank debt. Three other appeals, all related to asbestos claims, have passed a 4 December deadline for further filings with the US Supreme...

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