Lay Estate To Pay $12M To Pension Plans

Law360, New York (September 7, 2006, 12:00 AM EDT) -- Participants in Enron Corp.’s pension plan will collect $12 million from the estate of recently deceased Enron founder Ken Lay, thanks to a settlement reached between the U.S. Department of Labor and the executors of the estate.

The settlement must still be approved by the U.S. District Court for the Southern District of Texas, and may end up being more than $12 million, depending on the total assets recovered from the estate.

Lay died unexpectedly of heart disease on July 5 before he could be sentenced...
To view the full article, register now.