W.R. Grace & Co. is gearing up to emerge from bankruptcy by the end of January with $800 million worth of exit financing, Dow Jones Daily Bankruptcy Review reported today. The precise timing of the end of a 12-year stay in chapter 11 hangs on a ruling on one remaining legal challenge, Mark Shelnitz, general counsel to the chemical company, said yesterday. It is not yet known when the final decision will come, but Grace has started the preparations to line up the financing and prepare the final legal documents for bankruptcy emergence in the hope that it will arrive soon, executives said.
