Leslie Controls, Inc. Asbestos Personal Injury Trust
The Leslie Controls, Inc. Asbestos Personal Injury Trust was established on April 28, 2011, following the company's bankruptcy on July 12, 2010. The Trust was funded with $76.6 million to compensate individuals affected by asbestos exposure from Leslie Controls' products. [1](L1)
History
Founded in 1900 in Tampa, Florida, Leslie Controls, Inc. manufactured valves, air ejectors, boilers, heaters, laundry steam presses, pipes, pumps, and turbines. Many of these products contained asbestos from the early 1900s to the late 1980s. [1](L2)
The company supplied commercial industries and the U.S. Navy, which extensively used these asbestos - containing components. Growing asbestos - related lawsuits eventually led the company to file for bankruptcy in 2010, resulting in the creation of the Trust the following year. [1](L3)
Purpose of the Trust
The Trust ensures fair and efficient compensation for asbestos - related claims, both current and future, under the Trust Distribution Process (TDP), which prioritizes transparency and equity. [1](L4)