Lay's Enron conviction to be overturned
Former Enron boss died before his appeal could be heard
The judge based his decision on the fact that a dead defendant could not be
Lay was in the process
of appealing his sentence when he died.
His lawyers argued the conviction should be overturned following his death,
citing a 2004 appeals court ruling that the state could not punish a dead
defendant or their estate unless their case had been heard on appeal.
Enron went bankrupt in 2001 with debts of $31.8bn (£18bn), leaving 4,000
people out of work.