W.R. Grace & Co: Dealing with Asbestos Torts Harvard Case Solution & Analysis

A maker of building products and specialty chemicals, W. R. Grace & Co. filed for Chapter 11 bankruptcy in 2001 in response to a deluge of suits alleging that its products contained asbestos, and had caused hundreds of thousands of folks to contract asbestos-associated diseases such as the mesothelioma and lung cancer.

Nine years subsequently, Grace is determined to appear from insolvency with a plan of restructuring that provide for the institution of two individual purpose trusts in the course of which all current and prospect asbestos claim will be channeled, enabling the organization to live as a continuous business. However, the company and asbestos claimholder’s committees materially differ over the size of the business liability for asbestos, and have hired specialists to value the indebtedness. Grace's pro argues the liability is worth between $83 million and $173 million, while the plaintiff's expert claims the liability might be as great as $6.2 billion.

W.R. Grace & Co Dealing with Asbestos Torts Case Study Solution

PUBLICATION DATE: December 16, 2012 PRODUCT #: 213046-PDF-ENG

This is just an excerpt. This case is about FINANCE & ACCOUNTING

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