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Swan Transportation Company
The Situation
In December 2001, Swan Transportation Company filed for Chapter 11 protection as the result of its silica and asbestos liabilities arising out of claims by Tyler Pipe Industries employees. The company is currently seeking to emerge from bankruptcy with the establishment of a Trust for personal injury claims.
NERA's Role
NERA was retained by Swan to estimate future silica and asbestos bodily injury claims to be filed under the Trust. Estimating the number of workers at Swan’s plants who were likely exposed to silica or asbestos, NERA used an epidemiological approach to estimate future silica incidences and future claims separately from asbestos-related liabilities. NERA forecasted the number of future claims and associated costs.
The Result
NERA's forecasts were used for setting up the Swan Transportation Trust.