Proposed Legislation Could Aid Halliburton

Halliburton Co. said it expected to delay the bankruptcies of two units until the third quarter, a move that could enable the company to pay less money than expected to settle asbestos lawsuits under a proposed congressional bill.

The company last year agreed to a $4-billion cash-and-stock deal to settle 200,000 asbestos lawsuits. The most important step in the settlement is the filing of the prepackaged bankruptcies of the company’s Dresser Industries and Kellogg Brown & Root subsidiaries.