Liability Risk and Insurance
Halliburton agreement
The agreement to pay US$2.8bn plus 60mn shares of common stock to settle asbestos claims, present and future, also provides
for two subsidiaries, DII Industries and Kellogg Brown & Root, to enter pre-packaged bankruptcies. This is still subject to
acceptance by the current 300,000 claimants and court approval of the reorganisation plan. Halliburton will retain the rights
to the first US$2.3bn of insurance proceeds and any amounts over US$3bn.