Halliburton Takes $1B Charge, Nears Deepwater Settlement

Law360, New York (April 22, 2013, 12:46 PM EDT) -- Halliburton Co. is close to reaching a settlement resolving private claims in the sprawling multidistrict litigation over the Deepwater Horizon oil spill and has taken a $1 billion pre-tax charge related to a potential agreement, the company said Monday.

The oil services company that provided cement for BP PLC's Macondo well said it recently participated in court-facilitated settlement talks in order to resolve a “substantial portion” of private claims. The announcement comes less than a week after the end of phase one of a federal trial...
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