Delaware Chancery Court Backs Indemnification Claim by Halliburton's Insurance Company

WILMINGTON, Del.- Delaware Chancery Court sided with a carrier that insured Halliburton after it filed an indemnification claim for $6.8 million in asbestos claim payments and post spin-off terminated policy payments. Highlands Insurance Group Inc. and Highlands Insurance Company v. Halliburton Company and Kellogg Brown & Root, Inc. No. 17971 (Del. Chancery Ct., New Castle Cty.)

In its Dec. 31, 2003, decision, the court concluded that Highlands Insurance Group is entitled to recover for amounts that it mistakenly paid. The entitlement arose both under a written indemnification agreement between Highlands and Halliburton and, in part, from principles derived from the …