Asbestos Bankruptcy “Liability Estimates” ?
No, according to a an expert witness report submitted in the W.R. Grace asbestos bankruptcy by Dr. James Heckman, a Nobel Prize winning economist at the University of Chicago. Dr. Heckman’s expert witness report is here, along with the brief of the WR Grace shareholder committee that submitted the report in support of Grace’s attacks on the estimates offered by other witnesses. The report is a scathing indictment of the lack of science and reliability in the estimation process used in asbestos bankruptcies.
