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Enron founder's widow settles suit

June 11, 2008|From the Associated Press

HOUSTON — The widow of Enron Corp. founder Kenneth L. Lay has reached agreement with neighbors in her upscale high-rise over a lawsuit that claimed she didn't pay more than $109,000 in building dues.

Lawyers for both sides asked the federal court Tuesday to dismiss the suit, saying Linda Lay had paid all dues owed to the Huntingdon.

Linda Lay's assessment was based on ownership of nearly 3% of the 34-story building, the Houston Chronicle reported. Besides a 12,827-square-foot condominium on the 33rd floor worth more than $4 million, she also has 10 parking spaces and four storage units, the suit said.

Kenneth Lay's 2006 convictions on 10 counts of fraud, conspiracy and lying were vacated because of his July 2006 death from heart disease.

Enron crumbled in 2001, brought down after years of accounting tricks that hid billions in debts came to light.

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