WR Grace Asbestos Bankruptcy Plan Receives Approval
Asbestos Trust Benefits
A plan to provide benefits to those injured by the asbestos products manufactured by W.R. Grace has received court approval.
REORGANIZATION PLAN APPROVED
On April 4, 2018, Senior US District Court Judge for the District of Pennsylvania approved a reorganization plan for the former asbestos manufacturer, WR Grace. The company sought bankruptcy in 2001 from asbestos liabilities.
The reorganization plan provides for the payment of benefits to victims of asbestos-related disease.
ASBESTOS EXPOSURE
Asbestos exposure results in progressive and latent diseases, including asbestosis, lung cancer, and mesothelioma. There is no known cure for mesothelioma, a rare and fatal disease. The use of asbestos is not yet banned in the US. Many individuals, including workers and visitors to these locations, may have been exposed to asbestos-containing products.
ZONOLITE
WR Grace manufactured asbestos insulation, Zonolite, and other asbestos-containing products. WG Grace's asbestos-containing products were used in thousands of locations throughout the United States. The Zonolite/W.R. Grace facility, located in Hamilton Township, Mercer County, began processing vermiculite from Libby in 1948. the population living near the facility may have been exposed to higher levels of asbestos and may be at greater risk of developing asbestos-related cancer.
For many years it mined asbestos in Libby, Montana, and left behind a legacy of disease to its former employees and residents of the mining community.
Previously, the US Congress passed, and the President signed, a national health care bill that provided medical coverage under Medicare for those who worked and/or resided in Libby, Montana.
BENEFITS
The court approval of the plan allows the present and future asbestos victims to begin processing claims for payment.
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The author, Jon L. Gelman, practices law in Wayne, NJ. He is the author of NJ Workers’ Compensation Law (Thomson-Reuters) and co-author of the national treatise Modern Workers’ Compensation Law (Thomson-Reuters). For over five decades, the Law Offices of Jon L Gelman 1.973.696.7900 jon@gelmans.com have represented injured workers and their families who have suffered occupational accidents and illnesses.
Recommended Citation: Gelman, Jon L., WR Grace Asbestos Bankruptcy Plan Receives Approval, www.gelmans.com (2012), https://www.gelmans.com/ReadingRoom/tabid/65/ArtMID/1482/ArticleID/1010/preview/true/Default.aspx
© 2012-2023 Jon L Gelman. All rights reserved.
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