Bloomberg Law
June 18, 2020, 8:26 PM

Trane Technologies Units Go Bankrupt to Handle Asbestos Claims

Alex Wolf
Alex Wolf

Trane Technologies Plc has placed two newly created business units into bankruptcy to deal with legacy asbestos liabilities and free the industrial manufacturer from facing exposure-related lawsuits going forward.

Aldrich Pump LLC and Murray Boiler LLC filed petitions for Chapter 11 relief Thursday with the U.S. Bankruptcy Court for the Western District of North Carolina, with the ultimate aim of establishing a trust for channeling asbestos-related personal injury claims.

Similar to the Chapter 11 cases for Bestwall LLC or Kaiser Gypsum Company Inc., the Trane units seek a channeling injunction to address ongoing litigation, saying they pay nearly $100 million ...

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