Enron’s former lead counsel Vinson & Elkins has agreed to fork out $30m (£16.1m) to settle claims that the law firm signed off fraudulent deals, contributing to the downfall of the shamed energy giant.

Vinson admitted no liability but said it was willing to pay out in order to avoid lengthy litigation. The settlement, announced on 1 June, concludes all claims brought by Enron, although the Texas-based firm has one related class action still pending.