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These liabilities are difficult to calculate.
Major insurers have billions in these liabilities on their books.
"It appears to me they never had any intention of paying these liabilities," he said.
Maybe it will turn out that these liabilities are not as great as some people fear.
"It was incredibly important to them personally, because these liabilities would follow them," Mr. Barrett said.
What does G.M. have on the asset side of its ledger to offset these liabilities?
As interest rates fall, the present value of these liabilities increases.
Second, there is the very peculiar and opaque structure of these liabilities.
Many of these liabilities will not be coming due for decades.
"If the company is ultimately required to meet these liabilities, it will do so within its existing banking arrangements".
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For three decades, Amtrak has been paying these liability claims, regardless of fault, as a condition for using the freight lines' tracks.
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