W.R. Grace, 155 year old company, and its six executives
are facing criminal trial starting 23rd February 2009.
They face charges of obstructing, impeding and frustrating
government authorities by with- holding information
regarding the hazardous nature and friability of the
tremolite asbestos contaminated vermiculite and asserting
that the Libby operations and Libby vermiculite posed
no risk to public health and safety and the environment.
.
According to US Department of Justice, 1200 people in
or around Libby Montana either died or were sickened
by vermiculite deposits contaminated by amphibole asbestos
(more commonly known as tremolite), considered one of
the more deadly forms of asbestos.
If convicted by a jury, Grace could be fined at least
$280 million. A large enough fine could threaten W.R.Grace's
proposed $2.4 billion trust for people injured by asbestos.
Grace sought Chapter 11 bankruptcy protection in 2001
in response to more than 100,000 asbestos claims. Its
six executives face between five and 15 years in prison
if convicted on the counts they face. |
