Market Gems-Trading Strong Earnings Growth and Momentum Message Board

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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum

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To: Suma who wrote (6405)	4/2/2001 10:12:25 AM
From: ColtonGang	of 6445

Grace files bankruptcy Chemical maker cites rising number of asbestos-related injury claims April 2, 2001: 9:09 a.m. ET NEW YORK (CNNfn) - W.R. Grace & Co. said Monday it filed for bankruptcy protection from creditors due to a rising number of asbestos-related injury claims. The Columbia, Md.-based chemical company said it will continue operating as it seeks to develop a plan to deal with asbestos-related claims against it. The filing under Chapter 11 of the U.S. Bankruptcy Code includes 61 domestic subsidiaries but none of its businesses outside the United States, Grace said in a statement. In Chapter 11, a company is protected from creditors while it tries to work out a plan to reorganize its operations and reschedule its debt payments.

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