Leslie Gets Reorganization OK From Asbestos Claimants

Law360, New York (October 11, 2010, 3:53 PM EDT) -- The vast majority of asbestos claimants have backed Leslie Controls Inc.'s reorganization plan, allowing the valve maker and subject of numerous asbestos liability claims to move forward with efforts to obtain court approval of its prenegotiated Chapter 11 plan and emerge from bankruptcy.

On Friday, the balloting agent counting the votes filed a declaration with the U.S. Bankruptcy Court for the District of Delaware affirming that the percentage of claimants casting votes in favor of the plan significantly exceeded 75 percent — the amount required for...
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