W.R. Grace seeks 10th exclusivity extension to complete claims estimation

By Caroline Salls

Pittsburgh, June 19 - W.R. Grace & Co., Inc. requested its 10th extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company asked the court to extend the exclusive plan-filing deadline to 90 days after a final order is entered in its personal injury claims estimation trial, and the company asked the court to extend the solicitation period to 60 days after the plan filing deadline.

W.R. Grace's exclusivity is currently set to expire on July 23.

The company said claims estimation and valuation must be complete before it can seek confirmation of a plan of reorganization, and allowing competing plans to be filed before the estimation trial would only add more fees and expenses and distract the parties and the court from the estimation proceedings.

A hearing is scheduled for July 23.

W.R. Grace, a Columbia, Md.-based specialty chemicals company, filed for bankruptcy on April 2, 2001. Its Chapter 11 case number is 01-01139.

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