After nearly 11 years, W.R. Grace & Co. is emerging from the cocoon of bankruptcy court where it sought financial protection while Libby asbestos victims got sicker and many died through the years.

Grace filed for bankruptcy in 2001 as personal injury claims from asbestos victims began stacking up. Once that happened, many figured they’d never see a cent in compensation from the corporate giant.

Finally, after all that time, a $19.5 million settlement with Libby victims was announced last week. The money will be transferred to a local Libby Medical Plan Trust that will accept current members of Grace’s medical program for Libby patients. It’s not nearly enough money to take care of the massive health-care costs people poisoned by Grace’s former vermiculite mine at Libby will incur during the course of their prolonged and painful illnesses, but it is literally “better than nothing.”

With a latency period of up to 40 years before the effects of asbestos exposure take effect, who knows how many more Libby area residents will be diagnosed? Grace closed the vermiculite mine 22 years ago. At this point the Center for Asbestos Related Disease, or CARD clinic in Libby has a caseload of more than 2,800 patients with varying degrees of asbestos disease and continues to add new patients.

Grace has maintained a voluntary medical program for Libby asbestos victims since 2000, and the bankruptcy court settlement will assure the program keeps going. Libby claimants also will be eligible to receive distributions from the Asbestos Personal Injury Trust to be established through the Grace reorganization.

Hundreds of Libby claimants also are now receiving their portions of a $43 million settlement by the state of Montana to compensate asbestos victims. There’s been much frustration with the waiting game that accompanied the state settlement, and by Medicare liens that are cutting into the amount many victims receive.

Many will argue that this compensation, both from Grace and the state of Montana, is too little too late. That may be, but any measure of help for Libby victims should be embraced. Anything to alleviate the suffering of what is a slow death sentence for these innocent victims is welcome relief.