Halliburton Pension Victory Fizzles On Appeal

Law360, New York (August 25, 2006, 12:00 AM EDT) -- In a legal setback for oil-well contracting giant Halliburton Corp., a federal appeals court Thursday overturned a decision that had freed the company from a former executive’s pension benefit plan, reached through a 22-year-old oral agreement.

The U.S. Court of Appeals for the Fifth Circuit said a lower court erred when it granted summary judgment to Halliburton, allowing the company to morph the former employee’s breach-of-contract claim into a matter under the Employee Retirement Income Security Act (ERISA).

The earlier ruling, from the U.S. District Court...
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