W.R. Grace Fails to Obtain Bankruptcy Appeal Waivers

W.R. Grace has failed to obtain waivers to emerge from bankruptcy with certain appeals outstanding from Sealed Air (Elmwood Park, NJ) and Fresenius Medical Care (Waltham, MA), potentially delaying the company’s emergence from bankruptcy. The appeals are mainly related to asbestos claims, which drove Grace into bankruptcy in 2001. The company, which originally intended to emerge by the end of this year, may not do so until late 2013, says Laurence Alexander, an analyst with Jefferies & Company (New York).   The appeals will now be heard by the U.S...

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