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Merrill Lynch To Pay $29.5M To Enron

Law360 (July 6, 2006, 12:00 AM EDT) -- In a victory for Enron Corp.’s remaining estate, Merrill Lynch & Co. Inc. has agreed to pay the fallen energy trader $29.5 million to settle allegations that it helped plunge Enron into bankruptcy.

As part of the deal, which comes one day after the unexpected death of Enron’s convicted founder, Kenneth L. Lay, the securities firm has agreed to drop its own quest to recover $74 million from Enron during its ongoing bankruptcy.

However, some of Merrill Lynch’s claims against Enron remain outside the settlement. According...
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