Halliburton To Finalize Its Asbestos Case

US oilfield service company, Halliburton, which sank in problems with court, has won a US court order approving the settlement of asbestos claims by the end of the December.

The company agreed a $4.2 billion settlement in July. It said the court's decision should enable it to bring its subsidiary Kellogg, Brown & Root out of bankruptcy this month.

The asbestos order takes Halliburton a step closer to a possible sale of KBR sub, which yields only losses.

Halliburton said it "anticipates concluding the bankruptcy by year-end" and funding the asbestos settlement trusts by 30 January.