Halliburton Subsidiaries Exit Bankruptcy with $4.7 Billion Settlement

HOUSTON -- Halliburton has announced that two of its subsidiaries, DII Industries and Kellogg Brown & Root, have exited bankruptcy, marking the finalization of a $4.7 billion settlement of asbestos suits involving a reported 400,000 claimants. In re: Mid-Valley Inc, et al., Misc. No. 04-295 (W.D. Pa.).

In a press release issued Jan. 3, the Houston-based petroleum and energy provider said orders by the U.S. District Court for the Western District of Pennsylvania and the U.S. Bankruptcy Court for the Western District of Pennsylvania are now final and non-appealable. DII Industries and Kellogg Brown & Root can now operate without …