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News round-up - Asbestos Liability - New decisions in Halliburton case.
(From Reinsurance)
Equitas and US company Halliburton have announced that they have reached an agreement on Halliburton's asbestos-related insurance claims.
The settlement will resolve all asbestos-related claims made against Lloyd's underwriters by Halliburton and its subsidiaries, including DII Industries, Kellogg Brown & Root and others that have filed Chapter 11 bankruptcy proceedings as a part of Halliburton's global asbestos settlement.
Provided that there is final confirmation of the bankruptcy plan of reorganisation for the bankrupt Halliburton subsidiaries, and no US federal asbestos reform legislation is passed, Halliburton will be paid $575m.
Halliburton's claims against its London Market Company Insurers are not affected by the settlement.
Simon Wright, head of asbestos pollution and health hazard claims at Equitas, said: "The settlement with Halliburton caps what is, by far, the largest single direct liability faced by ...
- Halliburton Announces Exchange Offer and Consent Solicitation for Debentures...
- Press release article from: PR Newswire October 10, 2003 700+ words
...due 2096 (the "Halliburton debentures") in...its subsidiary, DII Industries, LLC (the "DII Industries debentures...outstanding of the DII Industries debentures is $300 million. Halliburton is making this exchange...
- Halliburton Announces DII Industries, LLC Receives Consents to Amend Indenture.
- Press release article from: PR Newswire October 27, 2003 700+ words
Halliburton announced today that DII Industries, LLC has received consents...connection with the offer by Halliburton to issue its new 7.6% debentures...exchange for a like amount of the DII Industries' 7.6% debentures. As previously...
- Halliburton Announces Court Confirms Prepackaged Plan of Reorganization of its...
- Press release article from: PR Newswire July 21, 2004 700+ words
...Reorganization filed by DII Industries, Kellogg Brown...and various other Halliburton subsidiaries to...silica settlement. DII Industries, KBR and other...executive officer of Halliburton. "Now that DII Industries' reorganization...
- Halliburton Gets Asbestos Stay.(asbestos claims against DII Industries...
- Newspaper article from: The Oil Daily February 20, 2003 700+ words
Oil services giant Halliburton said a court on Tuesday extended...asbestos claims against its unit DII Industries. Halliburton, which is also facing a probe...90% of claimants. However, Halliburton added that if it did not file...
- DII Industries and KBR Begin Solicitation Process.
- Press release article from: PR Newswire September 22, 2003 700+ words
Halliburton announced today that its DII Industries, Kellogg Brown &...is now posted on the Halliburton web site at http://www.halliburton.com/ . Trade and financial creditors of DII Industries, Kellogg Brown &...
- DII Industries and Kellogg Brown & Root Extend Voting Deadline on Plan of...
- Press release article from: PR Newswire November 6, 2003 700+ words
Halliburton announced today that DII Industries, LLC and Kellogg...increase the amount Halliburton and the filing subsidiaries...timely provided. Halliburton also announced that...Chapter 11 filing for DII Industries, KBR and some of...
- DII Industries and KBR Begin Supplemental Solicitation Process.
- Press release article from: PR Newswire November 18, 2003 700+ words
Halliburton announced today that DII Industries, Kellogg Brown & Root, and other affected...posted in the Asbestos Update section of the Halliburton web site at http://www.halliburton.com/ . Remaining conditions to a Chapter...
- Halliburton Completes Debt Exchange Offer.
- Press release article from: PR Newswire December 15, 2003 700+ words
...the outstanding DII Industries debentures) have...irrevocable. Halliburton will issue a like...exchange offer, Halliburton executed a supplemental...governing the DII Industries debentures whereby...exchange offer. Halliburton will pay the required...tendered their DII ...