Asbestos-Related Lawsuits Force W.R. Grace to File for Bankruptcy

W. R. Grace & Company is the latest casualty in asbestos-related lawsuits. The company, which has received over 325,000 personal injury claims related to asbestos and paid out $1.9 billion to resolve suits to date, has filed for Chapter 11 protection. W. R. Grace joins Owens Corning, Armstrong Industries, and more than 20 other companies in filing for bankruptcy protection due to asbestos liability.