JP Morgan Chase last night agreed to pay just over $1bn (€812m) to settle claims over the role it played in the collapse of Enron. The agreement came two months after the bank paid $2.2bn to investors in the collapsed US energy company and released it from any further claims.

The bank will pay $350m in cash to the bankrupt estate, and will settle claims it previously contested worth $660m. It reached the agreement in the US bankruptcy court for the southern district of New York.