Significant Developments In Recent Chapter 11 Filings

subW.R. Grace & Co.endsub

Grace Wants Sealed Air Corp. Protected; Committee Is Named Immediately upon W.R. Grace's filing for bankruptcy protection in early April, an adversary proceeding was initiated in an attempt to halt the filing of any asbestos-related actions and fraudulent transfer claims filed against any of the debtor's affiliated entities.

photo-1The motion noted that, in particular, W.R. Grace affiliate Sealed Air Corp. went from being named as a defendant in fewer than 100 asbestos lawsuits to over 6,000 in just one month.

"The Sealed Air, Fresenius and Non-Debtor Affiliates - whose purported liability is wholly derivative of, …