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Gold/Mining/Energy : ATPG Shareholders

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From: Billy Bilgewasser	9/2/2014 4:34:35 PM
	of 3620

"Halliburton Co. said it agreed to a $1.1 billion settlement covering a substantial majority of claims related to the 2010 Deepwater Horizon rig explosion in the Gulf of Mexico. "The oil-field services giant had settled criminal charges last year for its role in the explosion at a BP PLC well and had reserved more than $1 billion against claims. "The settlement, which includes legal fees, will be paid into a trust until all appeals have been resolved in three installments over the next two years. The company's previously accrued loss contingency provision relating to the litigation is currently $1.3 billion. "The agreement also includes punitive damages against Halliburton by a class of plaintiffs who allege damages to property or associated with the commercial fishing industry arising from the Deepwater Horizon disaster, the worst offshore oil spill in U.S. history." The quote above is from Market Watch. I'm not certain whether ATP was a party to the claims against Halliburton. But, if not, why not.

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