Babcock & Wilcox Asbestos Trust Fund: Claim Types, Payments and Legal Options
The Babcock & Wilcox Asbestos Trust aims to resolve valid asbestos injury claims stemming from the bankruptcy of related companies. This guide delves into the Trust's purpose and the claims submission process, ensuring clarity for claimants.
Introduction to Babcock & Wilcox Asbestos Trust
In 2006, following the bankruptcy of multiple affiliated entities, the Babcock & Wilcox Asbestos Trust was established. The core mission of this Trust is to ensure that individuals impacted by asbestos-related injuries from these companies receive their rightful compensation. This article offers a comprehensive overview of the Trust's objectives and the claim settlement procedure.
Babcock & Wilcox Asbestos Trust Purpose and Functions
The Babcock & Wilcox Asbestos Trust was born out of the financial downfall of several enterprises: The Babcock & Wilcox Company, Diamond Power International, Inc., Babcock & Wilcox Construction Co., Inc., and Americon, Inc. These companies faced numerous asbestos personal injury claims, leading to the formation of the Trust.
The main goal of this Trust is to handle and settle all valid asbestos injury claims against the mentioned defendants. Additionally, the Trust also covers certain associated protected entities. The Trust operates based on the Trust Distribution Procedures (TDP), which has received the green light from the bankruptcy court. This Trust not only ensures justice for the affected parties but also provides them with a clear understanding of the process and the Trust's functions.
Babcock & Wilcox Asbestos Trust Claim Submission and Resolution
The Babcock & Wilcox Asbestos Trust initiated its claim acceptance process on July 17, 2006, at 10:00 A.M. EST. Those looking to submit claims or understand the claim resolution process can find the required information and guidelines on the official Trust website.
Babcock & Wilcox Asbestos Trust Current Payment by Claim Type
Current payment amounts for each type of claim:
Mesothelioma Claims:
- Expedited Review: $90,000
- Individual Review: $400,000
- Ratio*: 6.3%
Lung Cancer Claims:
- Expedited Review: $35,000
- Individual Review: $150,000
- Ratio*: 6.3%
* The trust funds ensure a fixed percentage of compensation known as a "ratio", which reserves funds for potential future victims based on the claim's worth.
Babcock & Wilcox Asbestos Products
- FJ Furnace Boilers
- Gauges
- Insulating Firebrick
- Integral Furnace Boilers
- Marine Boilers
- Steam-Generating Boiler Products
- Stirling Boiler
- Type E Pulverizers
Babcock & Wilcox Trust Fund Asbestos Exposure Calculator
National average for mesothelioma lawsuit settlements typically range from $1.1 million to $1.5 million while lung cancer settlements may range between $150,000 and $350,000. Use Asbestos Compensation Calculator for a personalized compensation estimate.
Babcock & Wilcox Trust Fund Mesothelioma & Lung Cancer Compensation Calculator
Get a comprehensive mesothelioma or lung cancer compensation estimate after asbestos exposure form products related to Babcock & Wilcox Asbestos Trust Fund. Follow a few quick steps to receive your personalized result in seconds.
Asbestos & Mesothelioma Law Firm Near You
National law firms, with their experience in handling cases and trust fund claims across the country, can be a smart choice. Opting for a nationwide firm means you'll have a team of lawyers who know the ins and outs of asbestos cases in every state. They'll figure out the best place to file your claim and make sure it's done within the legal deadlines, all to get you the maximum possible compensation.
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