Asbestos Claims Deadline -
Wrongful Death Mesothelioma
Notice and Claims Process Begins In Babcock & Wilcox Bankruptcy Reorganization Leading to "Bar Date" Deadline For Asbestos-Related and Other Claims
NEW ORLEANS, LA, November 29, 2000 - A Court ordered notification and claims process began today for those persons and entities with asbestos-related claims against The Babcock & Wilcox Company and certain of its subsidiaries ("B&W") in connection with the B&W Chapter 11 bankruptcy reorganization. To preserve a claim against B&W, it must be filed and received by July 30, 2001 (the "Bar Date.")
B&W purchased asbestos from manufacturers and the material was used many years ago as insulation to protect people and equipment from high temperatures inside industrial, utility and marine boiler systems. Government regulations have required low exposure thresholds for asbestos since the early 1970's. Claimants affected by the bar date are those (including family or heirs) who have claims against B&W relating to asbestos exposure from a worksite, including ships, that had a B&W boiler system, or involving other B&W asbestos-related components.
Current claims not filed by the Bar Date cannot be brought against B&W in the future. Filing a claim does not necessarily entitle claimants to compensation. For valid claims, the amounts and dates when payments will be issued have not been determined. Certain persons, who previously settled claims with B&W but have not yet been paid, must still file claims, and they are due earlier. Generally, this does not prohibit claims for injuries not currently manifested as of the Bar Date from being filed in the future.
Asbestos litigation is leading to the bankruptcy of multinational corporations seeking protection from litigation that will soon approach $100 Billion Dollars worldwide.
These press releases were distributed by corporations commenting on their liability, government on legal reforms to end or stem payouts, as well as claimants and law firms announcing settlements for their clients.
Mesothelioma is a rare form of cancer. It affects the linings of the cavities around the lungs, stomach, and heart. It is caused by inhaling asbestos fibers, but the cancer usually does not appear until 10 to 40 years after a person first inhales asbestos.
Use and manufacturing of certain types of asbestos was outlawed in 1974. The re-construction and renovation of old buildings containing asbestos insulation products is now tightly regulated to protect workers from contracting asbestos-related diseases.
Prior to the Bar Date, notices will be mailed to potential claimants and attorneys, and are scheduled to appear in newspapers, magazines and on television throughout the United States. Notices will also be disseminated in Canada, the United Kingdom and the Philippines. Information about the claims process will also be made available through the Internet.
Claimants may call toll free 1-877-657-9158, write to Claims Agent, Re: Babcock & Wilcox, P.O. Box 9495, Minneapolis, MN 55440-9495, or visit the website at http://www.bwbardate.com to receive more information including a long form notice and claim form. Claimants are asked not to contact the Courts.
On February 22, 2000, B&W filed for protection under Chapter 11 of the U.S. Bankruptcy Code to determine and comprehensively resolve its asbestos liability claims. As part of the reorganization process, B&W must alert those who have current Asbestos Personal Injury Claims, as well as Derivative Asbestos Claims or Asbestos Property Damage Claims that these claims must be filed by the Bar Date.
The Chapter 11 filing by The Babcock & Wilcox Company includes its subsidiaries Americon, Inc., Babcock & Wilcox Construction Company, Inc., and Diamond Power International, Inc. Babcock & Wilcox Canada is not part of the U.S. filing but, as a consequence of the U.S. filing, has obtained relief in Canada staying asbestos claims from being brought against it. Because this is a voluntary Chapter 11 filing and B&W remains solvent, the Bar Date does not apply to unsecured creditors whose claims do not relate to asbestos issues or certain nuclear contamination issues. Accordingly, commercial creditors and suppliers need take no action. Also, all employee wages, salaries, benefits and retiree benefits are unaffected and protected.
The Bar Date also applies to nuclear contamination and radiation related claims in connection with the former nuclear fuel processing facilities located in Apollo, Pennsylvania and Parks Township, Pennsylvania. Complete descriptions of the claims subject to the Bar Date including more details about the claims process may be found in the long form notice and claim form that is available at the official www.bwbardate.com website or by calling the toll free call center at 1-877-657-9158.
Asbestos Wrongful Death
Wrongful death asbestos and wrongful death mesothelioma claims involve claimants who have died because of an asbestos-related disease. Contact an asbestos attorney to get information about filing a claim before the statutory deadline.