Governor Gianforte Announces $18.5 Million Settlement for Libby Asbestos Site

HELENA, Mont. – Governor Greg Gianforte today announced a proposed $18.5 million settlement agreement that resolves the remainder of the Montana Department of Environmental Quality’s claims in W.R. Grace & Co.’s Chapter 11 bankruptcy case for the Libby Asbestos Superfund Site in Lincoln County.

“After years of negotiation following Grace’s historic damage, Libby and communities in Lincoln County can more fully recover,” Governor Gianforte said. “I look forward to the positive impact this settlement can bring to the people of Libby and Lincoln County.”

Filed today in the U.S. Bankruptcy Court for the District of Delaware, the proposed settlement would require Grace to pay $18.5 million to resolve the State’s natural resource damage claims.

The Montana Natural Resource Damage Program, on behalf of the Governor, would receive the $18.5 million plus interest over ten years, with the first $5 million due within six months of entry of the settlement agreement. The funds would be used to restore, replace, or rehabilitate injured natural resources in the Lincoln County area, and related costs.

“On behalf of the Governor, the Natural Resource Damage Program looks forward to engaging with the local community to identify and implement restoration projects that address the injuries left by Grace’s activities. These projects will provide tangible environmental benefits and be a meaningful investment into the future of Libby and Lincoln County”, said Harley Harris, Program Manager for the Natural Resource Damage Program.  

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