Last year the US district judge Sim Lake dismissed a federal indictment to
bring Lay to trial – despite the former chairman having died of a heart attack
earlier that year.
Lay was unable to exhaust the appeals process when he died in July, less than
two months after a jury convicted him on six charges of conspiracy and fraud and
four charges of bank fraud.
But former Enron shareholder Russel Butler requested that Lay’s conviction be
reinstated as part of a request for restitution of Butler’s $8,000 investment.
Lay’s estate said the Crime Victims’ Rights Act did not address circumstances in
which the defendant is dead.
Civil lawsuits against Lay’s estate are still continuing, although there has
been some controversy over just how much that estate is worth.
A month before the conspiracy and fraud conviction was vacated, Lay’s estate
agreed to pay $12m to settle claims brought by employees who participated in
Enron’s pension plan.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children