Enron Deal Tabled As Insurer Objects To Lay Payout

Law360, New York (July 8, 2011, 6:05 PM EDT) -- A New York bankruptcy judge on Friday withheld approval of a settlement of a long-standing fight between creditors of Enron Corp. and the widow of its former chairman Kenneth Lay after John Hancock Life Insurance Co. raised objections over the deal.

U.S. Bankruptcy Judge Arthur J. Gonzalez told the parties in Manhattan court that he would put off his consideration of the settlement until later this month, eliciting displeasure from multiple sides of the dispute.

“I'm not going to approve the settlement today,” Gozanlez said, following...
To view the full article, register now.