[lbo-talk] Hitch: Halliburton Huzzah!

[Nomiprins at aol.com]

In a message dated 4/21/2003 10:27:56 PM Eastern Daylight Time, 
kjkhoo at softhome.net writes:


> Didn't Halliburton put KBR under bankruptcy court supervision to rid 
> itself of the asbestos claims? Under US law, can a company under such 
> supervision receive new contracts?
> 

Halliburton is only putting a portion of KBR through the chapter 11 process, 
the portion that caps the asbestos claims. That's the oddness of the whole 
agreement. But, even without it, companies under chapter 11 protection from 
creditors can still receive contracts. 

WorldCom was receiving new defense contracts while under chapter 11, with 
several officers under indictment, and while undergoing SEC fraud 
investigations and multiple class action suits.

Nomi
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