Subject category:
Finance, Accounting and Control
Published in:
2001
Length: 14 pages
Data source: Published sources
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Abstract
On April 2, 2001, WR Grace, one of the largest specialty chemical manufacturers, filed for bankruptcy protection in Delaware amidst a mounting number of asbestos related injury lawsuits marking the lowest point in the company''s long history. As of 2001, the company had been sued by more than 325,000 personal injury claims and had paid out $1.9 billion to settle or manage the ongoing litigation. The company had announced that it would continue to operate normally while it formed a plan to address the asbestos claims. After the announcement, Grace shares fell $0.78 to $1.52, well off the 52 week high of $14.88.
Subject category:
Finance, Accounting and Control
Published in:
2001
Length: 5 pages
Data source: Published sources
About
Abstract
On April 2, 2001, WR Grace, one of the largest specialty chemical manufacturers, filed for bankruptcy protection in Delaware amidst a mounting number of asbestos related injury lawsuits marking the lowest point in the company''s long history. As of 2001, the company had been sued by more than 325,000 personal injury claims and had paid out $1.9 billion to settle or manage the ongoing litigation. The company had announced that it would continue to operate normally while it formed a plan to address the asbestos claims. After the announcement, Grace shares fell $0.78 to $1.52, well off the 52 week high of $14.88.
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Subject category:
Finance, Accounting and Control
Published in:
2001
Length: 5 pages
Data source: Published sources