Halliburton To Pay $200M In KBR's Faulty Bolt Settlement

Law360, San Diego (September 27, 2011, 10:06 PM EDT) -- KBR Inc. said Tuesday an arbitration panel had found its unit liable in a contract dispute for using defective subsea bolts in the development of Barracuda & Caratinga Leasing Co. BV’s oil fields, noting KBR’s former parent Halliburton Co. would pay the $200 million award.

The defense contractor said in a regulatory filing that the panel had found Sept. 23 that Kellogg Brown & Root LLC should be held accountable for the costs of replacing the bolts, but under a master separation agreement, Halliburton had agreed...
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