Bush administration proposes deal to settle Lay estate claims

[rainbow4321]

http://www.mysanantonio.com/sharedcontent/APStories/stories/D8K09F8G1.html

The Labor Department proposed a $12 million agreement on Thursday with the estate of Kenneth Lay, the deceased founder of Enron Corp., to settle claims involving mismanagement of workers' pension plans.

The proposed settlement on behalf of participants covered by Enron's pension plans is subject to approval by the U.S. District Court for the Southern District of Texas, the department said. Even if the settlement is approved, it is unclear whether all of the money would ultimately be collected.


"Although the proposed settlement provides a $12 million claim against the estate, the final recovery will depend upon the total amount of assets available for distribution from Lay's estate," the department said.

The money collected would flow to the participants in Enron's pension plans, said a Labor Department attorney.

[aquart]

1. How much is the total value of the assets?

Take them all.

[demobabe]

2. So what does this mean?

Will each of those employees get a pension of a couple hundred bucks or so for all their years of hard work?

There are just no words for this.

[OrangeCountyDemocrat]

3. He Was Worth More Dead Than Alive....

I don't buy into the heart attack BS. He offed himself, because he was better off dead than alive, where he would have actually had to pay for his crime. He committed suicide, or is living offshore somewhere right at this moment.

[DoYouEverWonder]

4. I doubt if Lay had the balls to do himself in

He had no guilt or remorse for the things he did.

More likely a new face and a new life on a Caribbean Island is my guess.