If you worked for Brown & Root, Dresser Industries, HW Refractories, or another Halliburton subsidiary and were diagnosed with mesothelioma, you may be eligible to receive compensation from a mesothelioma trust fund claim. Call the asbestos trust fund attorneys at Baron & Budd to see if you qualify.
About the Halliburton Asbestos Bankruptcy Trust Fund
After a series of acquisitions, the multi-national oilfield services corporation now known as Halliburton filed for Chapter 11 bankruptcy protection in 2003. The bankruptcy was filed to reorganize the company after it purchased several corporations with financial responsibility for 300,000 asbestos related personal injury and wrongful death claims. One of those subsidiaries, Dresser Industries (who later became known as DII Industries), was associated with the production of asbestos-containing industrial products for years after becoming aware of the risks of asbestos exposure. Other subsidiaries of Halliburton, including Kellogg Brown & Root (KBR), were also named as the defendant in a number of lawsuits. The DII Industries, LLC Asbestos PI Trust was approved in 2005, bringing an end to any current or future liability for Halliburton regarding asbestos related claims. At the time, the $4 billion which initially funded the trust was the largest asbestos settlement in U.S. history.
Acquisitions Caused Halliburton to Become Liable for Asbestos Related Claims
Halliburton has acquired or absorbed many other companies over the years, but you might be surprised just how many names now fall within the Halliburton umbrella.
Halliburton Financial Responsibility for Asbestos Subsidiaries
The history leading up to Halliburton’s liability for hundreds of thousands of asbestos related claims began when Harbison-Walker Refractories Company was purchased by Dresser Industries in 1967. Harbison-Walker produced many products designed to be utilized under intense heat; The company continued using heat resistant asbestos in their products despite being aware of the dangerous risks associated with asbestos being linked to the formation of mesothelioma.
In 1998, Dresser, who had by then become DII Industries, was purchased by the Halliburton Corporation. Although DII agreed to be fully responsible for all asbestos related claims involving Harbison-Walker as the defendant, this alone was not sufficient to protect the parent company from liability resulting from lawsuits.
Dresser Industries manufactured oil and gas pipeline products and equipment containing asbestos. Some asbestos products named by Halliburton’s DII Industries Trust Fund products include the Dresser Pumps, Pacific Pumps, Ingersoll-Rand Compressors, Worthington Pumps and Turbines, Moore Turbines, and Alco Locomotives.
Lawsuits, Mergers & Deals Leading to the DII Industries, LLC Asbestos PI Trust
Harbison-Walker was named as the defendant in a 2001 lawsuit, when five plaintiffs were awarded a total of $40 million for asbestos exposure that later caused mesothelioma. Halliburton themselves report paying out a total of $900 million in settlements between 2002 to 2004, the period just before their bankruptcy and asbestos trust was fully approved.
As part of DII’s partially fulfilled promise to maintain responsibility for Harbison-Walker’s asbestos related claims, a deal involving their insurers, including the London Underwriters, was struck to fund a portion of the asbestos trust fund.
When all was said and done, the chapter 11 bankruptcy filed by Halliburton, DII Industries, KBR and a few smaller organizations resulted in the formation of the DII Industries, LLC Asbestos PI Trust. The DII Trust was originally funded with over $4 billion in cash, stock, and contributions made from insurance companies who had been involved throughout the proceedings. Harbison-Walker asbestos trust includes compensation for mesothelioma victims.
Halliburton Mesothelioma Trust Fund Settlements
The DII Industries Halliburton Asbestos Trust Fund pays eligible individuals for exposure to asbestos at one of its locations or subsidiaries. Our legal team can determine your eligibility to receive trust fund compensation from a DII trust fund claim.
Asbestos Products Dating Back to the 1800’s
Halliburton’s Harbison-Walker was founded in 1865 and began producing asbestos-containing industrial products including fireproof bricks, castables, refractory cement and ropes. Chromepak G, Micacrete, Metalkase Firebrick and H-W Lightweight Castable #10 were a few of the brand names under which Harbison-Walker marketed these products.
Dresser produced asbestos-containing insulation, turbines, compressors and pumps which were utilized in oilfields and within pipelines used to transport natural resources.
See if You Qualify for Mesothelioma Trust Fund Compensation
If you have been diagnosed with Mesothelioma, contact Baron & Budd today at 855-280-7664 to see if you qualify to receive compensation from a Halliburton mesothelioma trust fund. Claims can be filed electronically and are said to receive an initial response within a six month period of the initial filing. Because of the complex nature of asbestos trust fund claims, we highly recommend hiring an experienced attorney for mesothelioma trust fund claims that can help you receive the largest settlement amount possible.
Sources
http://www.diiasbestostrust.org/files/Product%20List-For%20Publication%2020080314.pdf
http://www.diiasbestostrust.org/default.asp