American Club
Economic Advice in Litigation
The Situation
The American Club (an insurance syndicate) challenged in court the validity of the claims of the trustee of a bankrupt shipping company.
NERA's Role
NERA analyzed whether the liquidated value of claims proposed by the trustee were reasonable. Based on the review of many individual claims files, which revealed sorely inadequate proof of exposure and disease, as well as a benchmarking study of the proposed settlement values against those for a variety of other defendants, NERA concluded that the proposed values were excessive.
The Result
The court dismissed the Trustee's plan.
