Judge approves Equitas asbestos settlement.A bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most judge has approved the $575 million asbestos-claims settlement between Halliburton Co. and Equitas, but it's not a done deal because the arrangement depends on Halliburton subsidiaries receiving approval for their bankruptcy plan and Congress not having passed a federal asbestos asbestos, mineral asbestos, common name for any of a variety of silicate minerals within the amphibole and serpentine groups that are fibrous in structure and more or less resistant to acid and fire. bill. Judge Judith Fitzgerald Judith Ariana Fitzgerald (born 11 November 1952) is a Canadian poet and journalist. She was born in Toronto, Ontario, a Crown ward of the province. She lives in Port Loring, Ontario. of the U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. in Pittsburgh, who also ruled in February that insurers have no standing in Halliburton's bankruptcy petition, approved the Halliburton-Equitas plan March 10. The settlement is part of the $2.3 billion that Halliburton expects insurers to contribute toward its $4.2 billion asbestos trust fund--a "global settlement" designed to pay all of Halliburton's asbestos liabilities and improve its stock price. This Equitas agreement settles all asbestos claims by Halliburton and its subsidiaries involved in the Chapter 11 plan, against certain underwriters at Lloyd's that were reinsured by Equitas, the runoff Runoff The procedure of printing the end-of-day prices for every stock on an exchange onto ticker tape. Notes: If the "tape is late" then it can take a long time to print off all the closing prices. vehicle for the market's pre-1993 liabilities. But Halliburton, which provides products and services to the petroleum and energy industries, has other claims against London market insurers that it has said aren't affected by this settlement. |
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