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this pageStatus of Babcock & Wilcox Asbestos Bankruptcy
Babcock & Wilcox filed for bankruptcy on February 22, 2000. Brayton Purcell filed claims against Babcock & Wilcox on behalf of our clients prior to the July 30, 2001 bar date. Those who had claims against the company had until August 29, 2003, to vote on whether to accept or reject a plan of reorganization. Brayton Purcell had voted in favor of the plan on behalf of its clients.
On January 18, 2006, the Chapter 11 Joint Plan of Reorganization and an associated proposed settlement agreement was approved. There were no appeals or objections to the District Court’s order recommending confirmation of the Plan and approval of the settlement agreement. After the required 30–day appeal period from the District Court order, the Babcock & Wilcox plan and all ancillary agreements became effective. The debtor has begun the process of setting up a trust for claimants. Once the trust is established we will begin filing claims.