Legal Question in Bankruptcy in Maryland
WR Grace Settlement Offer
If WR Grace made an offer to settle an asbestos-related death AFTER they filed Chapter 11, are they obligated to pay that amount, or will that be included as part of their reorganization?
Asked on 1/29/02, 3:28 pm
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: WR Grace Settlement Offer
It depends on the terms of the agreement. If the agreement was for payment in cash of x dollars, that's the settlement; if it was for an allowed claim of x, that's the deal.
Answered on 1/29/02, 3:32 pm
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