The Third District Court of Appeal on Wednesday gave the go-ahead to a probate settlement between the estate of millionaire businessman Victor Posner and the Pension Benefit Guaranty Corp., a federal corporation to which it owed employees’ pensions.

Posner left behind a $300 million estate when he died in 2002 at 83 in Miami, having built an industrial empire and a reputation for leading hostile takeovers. In 1985, Business Week labeled Posner the highest paid executive in the country, but he later served time in federal prison for tax evasion.