What Is the Babcock & Wilcox Asbestos Trust Fund?
Up until the 1980s, Babcock & Wilcox manufactured a number of products with asbestos, including gaskets and boiler insulation. As American workers and consumers began to fall sick with diseases like mesothelioma and lung cancer, many filed B&W asbestos lawsuits.
Ultimately, Babcock & Wilcox was court-ordered to establish a mesothelioma trust fund after they filed for bankruptcy in an effort to limit their legal liabilities connected to over 400,000 asbestos lawsuits.
An asbestos trust fund is money set aside by bankrupt companies that made and sold asbestos-containing products. These funds compensate patients with mesothelioma and other asbestos-related diseases linked to their products, as well as their families.
About the Babcock and Wilcox Asbestos Trust Fund
- In 2006, the Babcock & Wilcox Asbestos Personal Injury Settlement Trust was formed after The Babcock & Wilcox Company and their related business entities declared bankruptcy.
- Boilermakers, pipefitters, U.S. Navy veterans, and others may have worked with the company's asbestos-containing products on a regular basis.
- More than 42,000 worksites used B&W asbestos-containing products, including coal companies, manufacturing facilities, and utility companies.
- Compensation is available for victims with mesothelioma, lung cancer, and other qualifying asbestos-related diseases, as well as family members of those harmed.
- The Babcock and Wilcox Asbestos Trust was funded with $1.85 Billion, and you may be entitled to a share of this money.
Many mesothelioma victims qualify for payouts from multiple trust funds, as well as lawsuits. Asbestos trust fund awards average between $300,000 to $400,000 total, easing financial worries for families during this uncertain time.
At Sokolove Law, many of our clients begin receiving asbestos trust fund payouts in as few as 90 days of first contacting us. We’ll fight hard to secure the justice and compensation your family deserves.
Since 1979, Sokolove Law has secured over $5.3 Billion for thousands of mesothelioma victims and their families.
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Babcock and Wilcox Asbestos Products
In 1856, George Babcock and Stephen Wilcox came together and formed Babcock & Wilcox. They designed and sold a water-tube steam boiler that was more efficient and effective than the boilers on the market at the time.
Over the years, B&W sold asbestos-containing boilers and other products that were used on U.S. Navy ships and job sites across the chemical, glass, petroleum, and steelmaking industries.
Babcock and Wilcox asbestos products included:
- Asbestos cement
- Block insulation
- Boilers and boiler components
- Gaskets
- Packing
- Millboard
- Refractory bricks
Asbestos allowed these products to withstand extreme temperatures. However, anyone working with or around B&W asbestos products may have inhaled or swallowed microscopic fibers released during installation, repair, or replacement.
Those exposed are at risk of developing mesothelioma and other asbestos-related illnesses 20-50 years later. Mesothelioma claims are a way to hold B&W and other asbestos-related companies accountable.
History of B&W Asbestos Lawsuits & Liability
Up until B&W filed for bankruptcy in 2000, the company was hit with over 400,000 asbestos lawsuits. These legal complaints and corporate documents indicate that Babcock & Wilcox not only knew about the dangers of asbestos but went to great lengths to cover up the evidence.
A 1978 memo by a B&W executive noted that the company was aware they were violating Occupational Safety and Health Administration (OSHA) standards limiting worker exposure to asbestos.
While the company investigated the problem, they failed to warn workers.
“The investigation is going to be handled as discreetly as possible. It is a concern of the meeting attendees that a labor violation such as a walkout or an OSHA citation would be forthcoming if the hourly labor force was aware of the apparent danger of asbestos exposure. … As the situation stands right now, no one in the meeting wants the warning signs posted.”
– T.L. Wharton, Babcock & Wilcox (1978)
Instead of sounding the alarm and taking steps to protect workers, B&W kept quiet to keep making money, putting many innocent workers in harm's way.
Because of B&W's corporate negligence, families were able to take legal action in an effort to hold the company accountable. Ultimately, Babcock & Wilcox created a mesothelioma trust to compensate those who were injured and had lost loved ones.
$2.8 Million Babcock and Wilcox Lawsuit Verdict for Navy Veteran's Family
The family of a 30-year U.S. Navy veteran who passed away from mesothelioma was awarded $2.8 Million after they sued B&W and dozens of other asbestos-related companies for their loss.
The family alleged that the veteran had been exposed to asbestos-containing products manufactured by B&W and other companies from 1946 to 1970, including while working as a construction worker on the USS Raleigh from 1962 to 1964.
On appeal, the 4th Circuit ruled that the Babcock and Wilcox lawsuit verdict wasn't excessive based on the victim's pain and suffering, as well as his inability to care for his wife, who was blind.
"After [the veteran] became severely ill, he had lung surgery which left him with a hole in his chest that spewed fluid when he coughed, and he had chemotherapy that left him physically frail. [He] took morphine for severe pain. He was distraught and cried often. In his final days he asked to be taken off life support."
– U.S. Court of Appeals for the 4th Circuit
$1.6 Million Babcock and Wilcox Settlement
A $1.6 Million Babcock and Wilcox settlement was awarded to the wife of a U.S. Navy veteran and power company worker who was exposed to asbestos through multiple products, including those manufactured by B&W, and later passed away from mesothelioma.
The New York man was exposed to asbestos:
- In 1957, while serving in the U.S. Navy as a fireman striker and a machinist's mate on the USS Willis A. Lee
- While working for Consolidated Edison from 1962 to 1968 at the Astoria and Ravenswood Powerhouses
- In 1968 to 1969, while working at the General Motors Building, and in the 1970s, while working at the Exxon Building and Orbach's in the A & S Plaza on Woodhaven Boulevard in Queens
During pre-trial proceedings, a jury had found that the family had suffered $6 Million in damages, including $4.5 Million for pain and suffering. John Crane, a nonsettling asbestos defendant, was later ordered to pay the family $1.6 Million.
Who Can File a Babcock and Wilcox Bankruptcy Trust Claim?
The Babcock and Wilcox bankruptcy trust accepts claims from victims diagnosed with illnesses linked to asbestos exposure from B&W products, as well as their family members.
You may be able to file a B&W asbestos trust fund claim if:
- You were diagnosed with mesothelioma, lung cancer, or a related disease after being exposed to asbestos connected to B&W products
- A family member was diagnosed with or died from mesothelioma or another asbestos-caused illness after being exposed
- You represent the victim's estate
At Sokolove Law, our experienced asbestos attorneys can help determine if you may be able to seek compensation from the Babcock and Wilcox mesothelioma trust and other bankruptcy trusts for free.
Call (800) 647-3434 now to find out if you may qualify for compensation. An estimated $30 Billion is available across all asbestos trust funds, and you may be owed money from multiple trusts.
Occupations Linked to Babcock & Wilcox Asbestos Exposure
While anyone working on a job site where B&W asbestos products were located risked exposure, some professions came with a significantly higher risk. Workers in these job roles often installed or serviced Babcock & Wilcox asbestos products daily.
Babcock & Wilcox has identified over 1,800 jobs that may have caused workers to come in contact with asbestos.
High-risk Babcock & Wilcox asbestos exposure jobs included:
- Boiler Makers
- Electricians
- Firefighters
- Insulators
- Machinists
- Maintenance workers
- Millwrights
- Plumbers and pipe fitters
- Shipyard workers
- Steamfitters
- U.S. military veterans
- Welders
Family members may have come in contact with asbestos secondhand through fibers that loved ones unknowingly carried home on their work clothes. Decades later, secondary exposure can lead to mesothelioma, lung cancer, and more.
One woman alleged that she developed mesothelioma from washing her husband's overalls, which were covered in asbestos dust from working at a Babcock & Wilcox factory in the 1960s and 1970s.
How to File a B&W Asbestos Trust Fund Claim
The Babcock & Wilcox asbestos trust requires claimants to follow certain steps to access compensation. Filing a B&W asbestos trust fund claim can be confusing, but Sokolove Law can simplify the process by handling all of the legal work.
When you work with us to file a Babcock and Wilcox Trust claim, we can:
- Gather documentation: An asbestos lawyer at Sokolove Law can collect medical records and exposure evidence to support your claim.
- File your B&W asbestos claim: Your attorney will file your Babcock & Wilcox asbestos trust claim along with supporting documentation. They can also file claims with any other mesothelioma trusts that you may qualify for to maximize your potential payout.
- Claim review: The B&W asbestos trust will conduct either an individual or expedited review based on your preference. Your legal team will recommend the type of review that's best for your case.
- Access compensation: Once your claim is approved and liquidated, you will receive a Babcock & Wilcox asbestos trust payout.
B&W mesothelioma trust claims must be filed within the applicable statute of limitations. In many asbestos cases, this deadline begins when a person is diagnosed with an asbestos-related illness or passes away.
“Trust fund claims can move very fast, and they can be paid out very soon. I’ve seen as early as 6 weeks, but the norm is probably 2 or 3 months.”
– Ricky LeBlanc, Managing Attorney of Sokolove Law
Babcock and Wilcox Settlement Trust Payouts
Like other mesothelioma trusts, the Babcock & Wilcox settlement trust provides different asbestos payouts based on factors like the victim's disease, exposure history, and supporting evidence linking their illness to B&W products.
These amounts are based on B&W's individual review option, as well as the specifics of a victim's diagnosis, and are subject to change. A percentage system preserves the trust’s assets over time, ensuring there’s money remaining for future claimants.
Babcock Wilcox asbestos trust payouts include:
| Disease | Average Value | Maximum Value |
|---|---|---|
| Mesothelioma | $120,000 | $400,000 |
| Lung Cancer | $45,000 | $150,000 |
| Other Cancers | $22,500 | $75,000 |
| Asbestosis | $37,000 | $150,000 |
As of March 2026, the Babcock & Wilcox asbestos trust pays 4.7% of the total case value, meaning that a patient with a maximum value mesothelioma claim would receive $18,800.
With the payouts from other claims, families end up with an average of over $1 Million total, with payouts coming from multiple sources. Our team is available to help identify all of the compensation options available to you.
“The first settlement check took all the pressure off. So I had time to concentrate on the things that are important, like my family and my treatment.”
– David, Farmer with Mesothelioma & Firm Client
Pursue Babcock and Wilcox Asbestos Trust Payouts Now
As a national asbestos firm, Sokolove Law has the reach and the resources to determine asbestos exposure and seek compensation from the Babcock and Wilcox Asbestos Trust and other potential sources of financial support.
With a legal team fighting for the compensation and justice you deserve, you can focus on your health and well-being.
Over the past 45 years, we’ve secured more than $5.3 Billion total for patients and families affected by mesothelioma.
Call (800) 647-3434 right now or fill out our form to see if we can access money for you. There are no upfront costs or hourly fees.
Babcock & Wilcox Mesothelioma Trust FAQs
Is Babcock & Wilcox still in business?
Yes. Babcock & Wilcox is still in business today. The company now operates as Babcock & Wilcox Enterprises, Inc., an energy and environmental technology company headquartered in Akron, Ohio. From the early 1900s until the 1980s, B&W sold thousands of products that contained asbestos, which led to the company declaring bankruptcy.
While the company filed for Chapter 11 bankruptcy in 2000 due to asbestos lawsuits, they later reorganized and set up a trust to compensate those who developed illnesses tied to their products. See if you qualify for compensation from the B&W asbestos trust.
What is the average payout for the Babcock and Wilcox Asbestos Trust?
The average payout from the Babcock & Wilcox Asbestos Trust depends on the type of disease and the trust’s payment percentage. While actual payouts vary based on factors such as the claimant’s diagnosis, exposure history, and the type of review used by the trust, those with mesothelioma typically receive the largest payouts.
The average mesothelioma payout is over $1 Million for patients and families, with compensation usually coming from a number of trusts and companies.
What is the current payment percentage for the Babcock & Wilcox Asbestos Trust?
As of March 2026, the current payment percentage for the Babcock & Wilcox Asbestos Personal Injury Trust is 4.7%. This means the trust typically pays 4.7% of a claim’s value to approved claimants.
Can family members file a B&W asbestos trust fund claim?
Yes. If a loved one has passed away from mesothelioma, lung cancer, or another asbestos-related illness, certain family members may be able to file a B&W asbestos trust fund claim on their behalf.
A wrongful death claim can provide compensation for medical bills, lost income, and more.
Who bought Babcock and Wilcox?
Babcock & Wilcox was not sold to another company. It was previously owned by McDermott International but became an independent public company in 2010 and now operates as Babcock & Wilcox Enterprises, Inc.
What is the average payout from asbestos claims?
The average payout from asbestos claims is over $1 Million for illnesses like mesothelioma. Patients often qualify for $300,000 to $400,000 from asbestos trust fund claims alone.
This compensation can help cover medical bills and ease financial stresses as families move forward after a diagnosis.
Can I file claims with multiple asbestos trusts?
Often, yes. Many workers were exposed to multiple asbestos-containing products while doing their jobs.
At Sokolove Law, our experienced asbestos attorneys can identify all of the trust funds you qualify for and file claims with each one to increase your potential compensation. Call (800) 647-3434 to get started.
How long does it take to get a B&W asbestos trust payout?
Timelines vary depending on the review type and the complexity of your documentation. Expedited review claims are typically resolved more quickly, while individual review claims may take longer due to detailed evaluation.
However, many of our clients begin receiving payouts in as few as 90 days, providing quick financial relief. Contact us now to see if we can seek trust fund payouts for you.
