W.R. Grace $750,000 Curtis Bay hazardous cleanup cost settlement approved

By Caroline Salls

Pittsburgh, April 21 - W.R. Grace & Co. received court approval of a settlement that resolves a dispute with the U.S. Army Corp. of Engineers regarding costs related to the release of hazardous substances at W.R. Grace's Curtis Bay, Md., facility, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

According to the motion, the Army Corps contends that W.R. Grace is liable for costs under the Formerly Utilized Sites Remedial Action Program in relation to the Curtis Bay facility. The Army Corp. previously filed a $102 million unsecured non-priority claim against W.R. Grace in connection with the matter.

Under the settlement, the Army Corps of Engineers will reduce to zero its general unsecured claim related to the remedial program at the Curtis Bay facility.

The United States on behalf of the Army Corp. will be allowed $750,000 of administrative expense claims.

Also, W.R. Grace will pay 40% of the costs for remedial work at the Curtis Bay site, and the United States will pay the other 60%.

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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