$3B Agreement Reached by W.R. Grace for Asbestos Cancer Exposure

Early this week it was announced that W.R. Grace Company reached a $3 billion agreement regarding the current and future asbestos cancer claims brought against them.

The new settlement is expected to help the corporation get out of bankruptcy without owing for asbestos injury liability in the future.

Company Takes Care of Ongoing Mesothelioma Cancer Cases

W.R. Grace has been dealing with asbestos cases throughout the years that come from the products they produced for decades until the 1970’s that contained the harmful carcinogen.

As a part of the agreement Grace will have to make cash payments to a trust fund that has been established for victims of asbestos cancer for an extended period of time.

Asbestos Cancer Victims Receive Compensation

Grace is also responsible for the stock shares, at an agreed price, that will be put into the trust fund.

“The victims of asbestos poisoning and asbestos cancer have walked a long path to reach justice. Certainly nothing can replace the family members who have been lost as a result of their exposure to asbestos,” explains attorney, John D. Cooney.

(Source: Sun Herald)

Have you or a loved one been exposed to asbestos cancer? If so, please contact mesothelioma center to speak with someone about the resources available to you.