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Dow Chemical Co.

For Grace, a long road out of bankruptcy court

For Grace, a long road out of bankruptcy court

Chemical maker W.R. Grace & Co. is about to go where it hasn't been for nearly 13 years: out of bankruptcy.

The Chapter 11 case, one of the longest on record, got underway as the Columbia-based company faced more than 100,000 asbestos-related claims. Now, after negotiations, settlements and numerous appeals, Grace said it is finally on the brink of emerging from court protection — possibly as soon as Monday.

In between, Grace agreed to pay all creditors in full, acquired more than two dozen companies and pushed its stock from $1.52 a share to more than $90.

"This is just an absolutely amazing Chapter 11 case," said Peter A. Chapman, president of...