Halliburton Sued for ‘Financial Arson’ Toward Linde Partnership

Halliburton Co. is trying to scuttle a decades-old joint venture through a “financial arson” scheme aimed at persuading Linde Plc to cut its losses and walk away, the gas producer says.

A US-based Linde affiliate is suing in Delaware’s Chancery Court over Halliburton’s alleged “extortion-like” efforts to break off the their half-century-old partnership behind Wellnite Services, which provides nitrogen-based industrial products to energy companies. When confronted with its pattern of siphoning profits to itself, Halliburton responded with strongarm tactics, including the threat of a “cramdown fire sale,” the lawsuit says.

“This case is about Halliburton’s corporate greed,” according to the ...