- Bankruptcy and reorganization
- Building products
- Environmental pollution
- Financial reporting and forecasting
- Food additives
- Fraudulent conveyance
- Insurance coverage
- M&A due diligence and investment activity
- Pharmaceuticals and medical devices
- Public policy analytics
- Silica and other dusts
Our professionals are recognized as leading economic experts in asbestos-related matters. We use the most appropriate economic and statistical modeling techniques, and we have developed proprietary modeling and analysis software tools and databases that enhance our capabilities. We regularly provide advice and expert analysis on asbestos liability issues involving bankruptcy, insurance coverage, financial reporting, and due diligence for mergers and acquisitions. We have been involved in virtually every asbestos-related bankruptcy proceeding, such as Babcock & Wilcox, WR Grace, ASARCO, and, most recently, Motors Liquidation. And we are recognized as the leading economic consulting firm to provide advanced estimation services for insurance policy valuation and allocation. Examples of our relevant work include:
- Bankruptcy estimation. On behalf of the Official Committee of Unsecured Creditors of Motors Liquidation Company (f/k/a General Motors Corporation), we were retained as an asbestos liability valuation expert. We modeled Motors Liquidation’s liability share in the context of recoveries available from established and emerging 524(g) trusts of former codefendants. Our client achieved an unprecedented liability settlement below book value.
- Nonproducts coverage. We submitted affirmative and rebuttal expert reports and testified on behalf of a joint insurer defense group to quantify Owens Corning’s liability to claimants with operations-based exposure. Our clients ultimately settled for a fraction of the amount paid by previous defendants.
- Allocation. We have been retained by both insurers and insureds in connection with insurance buy-back negotiations. We have valued the policies under different allocation methodologies (e.g., Carter-Wallace, pro rata, all sums), occurrence definitions (e.g., multiple products, predecessors, exposure), and other policy features. We also have provided litigation and settlement support in similar contexts.
- Financial reporting. We provide quarterly financial reporting on asbestos-related expenditures—both gross and net of insurance recoveries—for several Fortune 500 companies, including Cooper Industries, EnPro Industries, Goodyear Tire & Rubber Company, John Crane, and Meritor.
- Public policy. Our experts have testified on federal- and state-level legislation and have authored amicus briefs and white papers in this area. Notably, we testified before the Senate Judiciary Committee on the economic viability of the Trust Fund proposed under S.852, the Fairness in Asbestos Injury Resolution (FAIR) Act of 2005. Our testimony clarified Bates White’s independent analysis on the difference between current tort liabilities and potential entitlements created by the administrative no-fault trust fund that uses medical criteria for claims-filing eligibility.