(PRWEB) February 16, 2012
Last week, the U.S. District Court for the District of Delaware affirmed the U.S. Bankruptcy Court’s confirmation of Leslie Controls’ pre-negotiated Chapter 11 reorganization plan (In re: Leslie Controls, Inc., Chapter 11 Case No. 10-12199 (CSS), First Amended Plan of Reorganization of Leslie Controls Inc. Under Chapter 11 of the Bankruptcy Code), opening the way for those injured by asbestos to pursue financial awards for their asbestos related deaths and illnesses, such as mesothelioma and asbestosis.
A pre-negotiated plan enables the company to complete the Chapter 11 bankruptcy process more quickly and cost effectively than conventional filing because details have been worked out and agreements made that lead to less appeals and faster support by all parties.
Leslie Controls was first founded in 1905 by J.S. Leslie and later became a wholly owned subsidiary of CIRCOR International. According to CIRCOR, Leslie Controls equipped U.S. navy ships with asbestos containing gaskets and valves (asbestos components purchased from an outside supplier.)
Asbestos is a naturally occurring yet highly toxic mineral that was once used in thousands of industrial and construction products because of it’s heat, fire and erosion resistant properties. Exposure to asbestos causes fatal illnesses, such as mesothelioma, asbestosis and cancer. Anyone who develops an asbestos related injury, many of whom are military and Navy veterans who worked aboard ships, are entitled to file a mesothelioma lawsuit or asbestos bankruptcy claim against those they can prove are responsible for the products that caused their injury.
Leslie Controls sought bankruptcy protection in 2010 when, according to court papers, there were more than 1300 pending personal injury asbestos claims filed against them. Following U.S. law, all claims and litigation against Leslie Controls was stayed while the bankruptcy was pending. With approval of the reorganization plan, asbestos claimants can now file for compensation against the approved $75 million asbestos trust funded by Leslie and CIRCOR.
Mesothelioma attorneys Clapper Patti Schweizer & Mason (CPSM), who specialize in representing military and navy veterans diagnosed with asbestos cancer and diseases, want to alert clients that Leslie Controls reorganizaiton plan has been approved. Final completion of the bankruptcy approval process, according to a press release given by CIRCOR, is expected to “be completed in as little as 120 days.”
After such time, plaintiffs of Leslie asbestos cases will be able to make claims against the established trust for compensation for proven asbestos related deaths and illnesses.
If you have been diagnosed with mesothelioma, contact us today at 1-800-440-4262 for a free case evaluation. Filing a mesothelioma lawsuit or asbestos bankruptcy trust claim can be a very complex process, and having an experienced asbestos law firm that specializes in representing victims of asbestos is essential for successful and fast recovery. For over thirty years, Clapper Patti Schweizer & Mason has won significant awards for their clients, gaining them the reputation of being top asbestos attorneys in the United States.