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W.R. Grace set to exit Chapter 11 after 12 years

  • W.R. Grace & Co (GRA) has agreed to pay a group of bank lenders $1.1B in a deal that will settle the last remaining appeal against the specialty chemical manufacturer's plan to exit Chapter 11 after an astonishing 12 years.
  • Grace filed for bankruptcy protection in 2001 following an asbestos leak at one of its mines, which prompted a wave of lawsuits. Since then, the firm has survived two recessions and prospered as a result of the shale revolution. (Previous)
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