Navy Veterans Alert: Leslie Controls Created $75 Million Asbestos TrustLegislation & Litigation
Asbestos.com is the nation’s most trusted mesothelioma resource
The Mesothelioma Center at Asbestos.com has provided patients and their loved ones the most updated and reliable information on mesothelioma and asbestos exposure since 2006.
Our team of Patient Advocates includes a medical doctor, a registered nurse, health services administrators, veterans, VA-accredited Claims Agents, an oncology patient navigator and hospice care expert. Their combined expertise means we help any mesothelioma patient or loved one through every step of their cancer journey.
More than 30 contributors, including mesothelioma doctors, survivors, health care professionals and other experts, have peer-reviewed our website and written unique research-driven articles to ensure you get the highest-quality medical and health information.
About The Mesothelioma Center at Asbestos.com
- Assisting mesothelioma patients and their loved ones since 2006.
- Helps more than 50% of mesothelioma patients diagnosed annually in the U.S.
- A+ rating from the Better Business Bureau.
- 5-star reviewed mesothelioma and support organization.
"My family has only the highest compliment for the assistance and support that we received from The Mesothelioma Center. This is a staff of compassionate and knowledgeable individuals who respect what your family is experiencing and who go the extra mile to make an unfortunate diagnosis less stressful. Information and assistance were provided by The Mesothelioma Center at no cost to our family."LashawnMesothelioma patient’s daughter
How to Cite Asbestos.com’s Article
Povtak, T. (2020, October 16). Navy Veterans Alert: Leslie Controls Created $75 Million Asbestos Trust. Asbestos.com. Retrieved October 4, 2022, from https://www.asbestos.com/news/2012/02/17/navy-veterans-alert-leslie-controls-created-75-million-asbestos-trust/
Povtak, Tim. "Navy Veterans Alert: Leslie Controls Created $75 Million Asbestos Trust." Asbestos.com, 16 Oct 2020, https://www.asbestos.com/news/2012/02/17/navy-veterans-alert-leslie-controls-created-75-million-asbestos-trust/.
Povtak, Tim. "Navy Veterans Alert: Leslie Controls Created $75 Million Asbestos Trust." Asbestos.com. Last modified October 16, 2020. https://www.asbestos.com/news/2012/02/17/navy-veterans-alert-leslie-controls-created-75-million-asbestos-trust/.
The pre-negotiated Chapter 11 reorganization plan filed by Leslie Controls, Inc., was affirmed by the U.S. District Court for the District of Delaware, allowing the Tampa-based company to emerge from bankruptcy protection — making available its $75 million asbestos trust.
Leslie provided gaskets and valves that contained asbestos for U.S. Navy ships from the 1940s to the ’80s. Leslie had been named in a growing number of asbestos-related personal injury claims and sought bankruptcy protection in 2010.
Parent company CIRCOR made the announcement of court approval earlier this month, expecting conclusion of the process within 60 days. The plan is intended to resolve Leslie’s asbestos liability through the trust, which will handle all pending and future litigation.
The inhalation of asbestos fibers is the primary cause of mesothelioma, the cancer with the long latency period, and a number of other respiratory illnesses.
Although veterans are prohibited from bringing liability claims directly against the U.S. military, which is protected by sovereign immunity and the Feres Doctrine, they can file claims against companies like Leslie, which provided the Navy with the toxic products.
In previous legal debates, Leslie has contended that asbestos in products provided to the Navy remained fully encapsulated and did not contribute to the exposure of veterans. According to the Leslie news release when it filed for protection, the company record $35.2 million in revenue for 2009, which was approximately 5.5 percent of CIRCOR’s revenue of $642.6 million for the same year.
All claims and litigation against Leslie were suspended in 2010 under bankruptcy laws, but claims against the trust are expected to resume quickly once approval of the reorganization plan is finalized.
CIRCOR, which has more than 7,000 customers in 100 different companies, designs, manufactures and markets valves and subsystems that safely control the flow of fluids in industrial, energy and aerospace markets.
The pre-negotiated plan allowed the bankruptcy process to move quickly and more cost effectively than conventional filing, which often can take considerably longer to complete.