WR Grace Reaches $140 Million Settlement in Zonolite Insulation Class Action

December 1, 2008

On December 1, a tentative $140 million settlement was reached that would settle the class action lawsuit against WR Grace & Co, over Zonolite Attic Insulation. The terms of the settlement would require that WR Grace pay out $140 million over the next 25 years.

For Canadian Citizens

On October 20, 2008, Bankruptcy Judge Judith K. Fitzgerald ordered that all persons and entities with Zonolite Attic Insulation claims relating to property in Canada ("CDN ZAI PD Claims") against Grace must file these claims on or before August 31, 2009 (the "Bar Date").

Canadian zonolite claims could include, among others, the cost of abatement or removal, the diminution of property value, economic loss, or other property-related claims caused by zonolite manufactured by Grace.

About Zonolite

Zonolite insulation was made from vermiculite asbestos, which was mined near Libby, Montana. Marketed as a "do it yourself" insulation in hardware stores for 60 years, Zonlite was installed in thousands of American homes. While W.R. Grace had prepared an asbestosis warning label for Zonolite in the 1970s, it was never released. W.R. Grace stopped selling Zonolite in 1984.

In 2008, W.R. Grace agreed to pay $250 million to clean up contamination in Libby, where asbestos exposure created an epidemic of lung disease among local residents.

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