Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Friday, 10.31.2014
Classifieds
News Archive
Su Mo Tu We Th Fr Sa
 1  2  3  4  5
 6  7  8  9  10  11  12
 13  14  15  16  17  18  19
 20  21  22  23  24  25  26
 27  28  29  30
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local




Members Of



Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Apr 08,2008
W.R. Grace settles asbestos claims
by UPI

COLUMBIA, Md. -- The Maryland chemical conglomerate W.R. Grace and Co. said it agreed to settle all of its remaining asbestos cases with a $1.8 billion offer.

Monday's settlement awards cash, ongoing contributions to a victims' trust fund and a deal to offer claimants the right to buy its stock at a discounted price, The Washington Post said Tuesday.

Asbestos is a fire resistant material known to cause cancer.

"We wanted to do what we do best and that's make specialty chemical products to serve our customers and get on with life," said Chief Executive Officer Fred Festa, adding the court battle could go on for years without a settlement.

John Cooney, who argued against W.R. Grace, called the settlement "fair" and "appropriate" and reminded the Post of the loss of life due to the "needless use of asbestos products for many decades."

The filing of more than 100,000 asbestos-related lawsuits forced the company into bankruptcy in 2001.

If approved, W.R. Grace would pay $250 million into the trust fund immediately and more than $100 million annually for an undetermined period extending beyond 2024.

Legal observers said the settlement is one of the least expensive of the asbestos related cases b

Copyright © 2008, by United Press International. All Rights Reserved.

ecause many of the claimants did not suffer malignant forms of cancer.
831 times read

Related news
Settlement reached in Mont. Superfund case by UPI posted on Mar 11,2008

Asbestos found in holiday toys by UPI posted on Nov 29,2007

DEQ Fines Deschutes County & Bend Contractor for Asbestos Violations by Bend Weekly News Sources posted on Mar 24,2006

Former Bend DEQ office owner, contractor fined for asbestos project by Bend_Weekly_News_Sources posted on Jun 15,2007

Possibility of Asbestos in Flooring Forces Closure of DEQ Bend Office by Bend Weekly News Sources posted on Dec 15,2006

Did you enjoy this article? Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00 (total 28 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County
Fairgrounds

Tower Theatre
Tower Theatre

The High Desert Museum

Advertisements



Deschutes County

Google  
  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
Advertisement
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?