Posts Tagged ‘Delaware’

Judge dismisses discovery motion in asbestos trusts suit

20 Sep 2017 by under News

whistleblower reward justice 375x210 100x100 Judge dismisses discovery motion in asbestos trusts suitA -based judge dismissed a motion last week that was filed on behalf of a number of states after trusts failed to answer discovery requests in a suit alleging they are mismanaging funds, according to Forbes. (more…)


Bridgeport Speedway benefit for meso research

11 Feb 2009 by under Events, News, Organizations, Research/Treatment

race car 150x150 Bridgeport Speedway benefit for meso researchUpdates on Lung Leavin’ Day festivities to come… stay tuned!

But in the meantime, let me share some news about a fund raising event for mesothelioma research for those of you who live in northeast. The Bridgeport Speedway and Bill Thomas Racing will present the first ever “Meet & Greet the Drivers and See the Cars of Bridgeport Speedway” on Saturday and Sunday, March 7 and 8. The event will be held at the Granite Run Mall in Media, Penn.

Proceeds from the event will benefit the Mesothelioma Applied Research Foundation to help fund research to find a cure for mesothelioma. The show will see the mall filled with racing vehicles of all classes and there will be a number of current and retired racers on hand to visit with fans and sign autographs. The event also will feature Ms. Motorsports 2009.

The Bridgeport Speedway, which is located in Bridgeport, New Jersey, bills itself as “The Fastest Dirt Track in the East.” The South Jersey raceway features a fun family atmosphere at a banked 5/8th mile dirt oval, featuring a dirt 1/4 mile oval embedded in the center. The track is centrally located minutes from and Delaware.

The Granite Run Mall is located in the heart of the tourist areas of central , Valley Forge and the Brandywine Valley.

More information about fund raising events to benefit mesothelioma research through the Mesothelioma Applied Research Foundation is available on the organization’s web site, along with assistance if you’d like to plan an event. Go to their home page at www.curemeso.org and click on the “Volunteer” tab and then “Upcoming Events,” or email info@curemeso.org.


W.R. Grace profits soar amid suffering

30 Oct 2008 by under Legal, News

W.R. Grace & Co. announced in mid-September that it had filed a Plan of Reorganization for the company with the U.S. Bankruptcy Court in Delaware. According to Grace Chairman, President and CEO Fred Festa, the filing was a step toward resolving the company’s asbestos-related liabilities and exiting its Chapter 11 bankruptcy status. A hearing on the company’s Disclosure Statement was set to begin this week.

As we have posted on this site many times before, W.R. Grace operated a vermiculite mine and processing plant in and near , Montana, from 1963 to 1990. The vermiculite was contaminated with high levels of asbestos, which affected the health of mine workers and just about everyone who lived in the town. Gravel and other scrap rock from the mine was scattered throughout the town of , used in construction of a running track at the school, lining flowerbeds, and underfoot on ballfields.

Hundreds of Libby residents have died of and other asbestos-related illnesses as a result of their widespread exposure to the asbestos materials, and even more are sick with asbestos disease. In March, Grace agreed to pay $250 million toward government cleanup efforts in the town of Libby. It is estimated that the Environmental Protection Agency has spent at least $168 million so far in removing asbestos-contaminated soils and other materials from the Libby area.

Reaching beyond Libby, which has been basically killed by asbestos, the vermiculite insulation that was manufactured by Grace is still a danger in thousands of homes, where it was used for years. Grace is currently accepting claims from homeowners who have the company’s Zonolite Attic Insulation (ZAI) in their homes, for reimbursement of asbestos abatement costs and other economic loss and property devaluation related to the presence of the asbestos-laden material. This action, which centers exclusively on property-related damages, doesn’t even touch the potential health hazard of having the substance in one’s home.*

While Grace sorts out its bankruptcy issues, the Baltimore Business Journal reported on Oct. 23 that the company has seen record profits in 2008, experiencing nearly 50 percent growth in its third-quarter earnings. The Journal reports the Columbia-based Grace (NYSE: GRA) enjoyed a 14 percent increase in sales since last year, with revenues topping $800 million. The report says,  “Grace’s pre-tax income from core operations, which factors out costs related to the company’s Chapter 11 bankruptcy, rose 6 percent to $82 million.”

The story quotes Grace Chief Financial Officer Hudson La Force as saying, “What’s really important is the condition of the financial markets in the middle of next year. We’re very focused on making sure when the time comes to make our exit, we have the financing in place to do that.”

Documents outlining the company’s Financial Reorganization Plan are available on the Grace web site at www.grace.com.

*PLEASE NOTE: TO LEARN MORE ABOUT FILING A ZAI CLAIM, PLEASE VISIT THE GRACE BANKRUPTCY CLAIMS INFORMATION SITE at www.graceclaims.com to download the forms necessary to file your claim. Deadline to file is OCTOBER 31, 2008.