WR Grace- Will they ever emerge from bankruptcy soon, smelling like a rose?

Implications: WR. Grace's tactics in their bankruptcy set the benchmark for all to follow. The allowance of extensive discovery in an asbestos bankruptcy has generally favored the defense.

Analysis: WR Grace's 524(g) bankruptcy has clearly gone on for longer than most ever anticipated, but a resolution is not far off & will undoubtedly if all continues to play out as it has leave Grace in the driver's seat.  There has been so much chess play been going on between both sides given all the parallel proceedings with the EPA and the criminal trial.  Clearly is has been a full time job for some just monitoring all the maneuvering.  The recent estimation hearings were interesting to say the least.  Much latitude was given to the introduce of what some  have opined as questionable scientific evidence diagnosing and linking asbestos to certain claimant's.  Judge Fitzgerald has certainly had her hands full with all the emerging issues and innovative gladiators. Importantly, how long was it really going to be before some microscoped proceedings like those involving Babcock, Owens, USG, Armstrong,  etc., to draft the play book that would guide the lawyers easily through this maze.  The asbestos statistical experts were masterful in their endeavors to persuade, but it will be the shareholders who may ultimately pay the price.  The ultimate outcome or real residual from this bankruptcy may be the need to revise 524(g) to make it a little more definitive as what is needed to have a petition accepted & a closer look at how your insurance is affected. http://insurancescrawl.com/archives/2006/01/insurance_indus.html