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.

Table of Contents
Introduction
Trust Purpose and Functions
Claim Submission and Resolution
Current Payment by Claim Types
Asbestos Products
Legal Options & Free Legal Consultation

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

Asbestos Law Firms 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.