input stringlengths 93 39k | output stringlengths 1 117 |
|---|---|
Please remember that once a master has been executed the status SHOULD NEVER be changed from its "executed" status.
To accomodate the master upgrades and master netting agreements I have added additional selections to the status bar, so you now have the following selections to choose within the "executed" status bar: 1.
"executed" 2.
"executed-under amendment" - to be used when we are amending a master 3.
"executed-inactive" - to be used when a master is executed but we are no longer trading under it 4.
"executed-master upgrade" - to be used when we are doing an ISDA replacement master or replacing one master with another master 5.
"executed-master netting agreement" - to be used when we have a master in place and we are upgrading it to add a master netting agreement Thanks for your attention herewith.
| Lotus Notes-Status Choices |
I have modified the letter slightly to try and shift the burden of being notified as to internal policy matters back to the counterparty.
Let me know if you think this approach works or if you have suggested improvements in the language.
Thanks
| Apparent Authority Letter |
Sara, It has been brought to my attention that the payment language we are using for financial power trades that are less than one month in duration does not mention that payment is due 5 business days after the floating price is determinable.
It basically says 5 business days after the last day of the month.
The fifth (5th) Business Day following the date on which the Floating Price is determinable (this language is in all confirms with a calculation period of one month or longer).
The fifth (5th) Business Day following the last day of the month that includes the Calculation Period (this language is in all confirms with a calculation period less than one month).
Can you draft payment language for trades less than one month that states payment is due five business days after the floating price is determinable?
Call me if you would like to discuss.
Thanks,
| Payment Language on Financial Power Confirms |
In order to bring better legal coordination and standardization to Enron's Risk Assessment and Control (RAC) group, we have formed a new legal group, which will initially include Lisa Mellencamp (Finance), Marcus Nettelton (Power Trading), Carol St. Clair (Broadband/Power Trading), Mary Cook (Financial Swaps), Peter Keohane (Canada), Ed Essandoh (Retail), Paul Darmitzel (Retail) and Elizabeth Sager (Power Trading) (Team Leader).
This group will focus on, among other things, managing Enron's exposures with bankrupt counterparties, working out credit solutions with distressed counterparties and standardizing our overall credit practices.
The initial members in this group have been drawn from Enron's numerous legal groups in order to gain a broader perspective.
Each of these members will provide support to this new group in addition to their current responsibilities.
Within RAC, Michael Tribolet will focus on distressed counterparties, in conjunction with Bill Bradford, who continues to manage the Credit Risk Management group.
Please join us in supporting the efforts of this new group.
| New Legal Team to Assist RAC |
Sara and Marie, Andy Fastow authorized Ben Glisan and Tim Despain in June to withdraw funds from the Enron Corp Account at MSDW.
MSDW will accept a letter on company letterhead authorizing individuals to withdraw funds.
I can draft up something and have Andy sign it to authorize for Enron Corp. We will also include Ben and Tim on the document for signatory examples.
As a matter of course, Jill and I have been signing before it goes to Andy.
Can we do this lettter instead of going the Corporate Secretary route to get it done?
It is not good that we currently have sole reliance on Andy being in the office to move funds out of the account.
Please advise.
Sheila
| Enron Corp |
Sara, Believe it or not, we are very close getting our signed ISDA from the City of Glendale.
Steve Lins, the City attorney had a couple of questions which I will attempt to relay without having a copy of the documents.
1) I am assuming that he obtained a for legal opinion letter or document of some sort.
This document references a confirmation and we are not sure what this references.
Typically, it references a transaction, which in this case, there are no transactions yet.
He feels this reference should be deleted.
What is your opinion regarding this?
2) We sent him a couple of form documents to facilitate the documents required under the ISDA.
One form ws a form resolution.
They have already received City Council approval to enter into financial tranactions and to enter into an ISDA with us.
Steve is going to get a certified copy of this Resolution.
Will this suffice?
When you return, I may try to do one last conference call to alleviate any unanswered questions.
I think we will have an executed ISDA with the City of Glendale by the end of next week.
I am going to be out there meeting with them on Wednesday.
Thanks for your help,
| City of Glendale |
Sara!
We are ok with eliminating the CSA from the ISDA with Orlando Utilities Commission (OUC).
However, we would like to add an additional termination event, of debt rating change below A for OUC and BBB- for Enron Corp. Richard!
In the absence of any margin rights, we will be monitoring trading activities with this counterparty more closely and this may result in certain transactions limitations.
Rudwell 53596.
| Orlando Utilities Commission |
Donna: I checked the corporate database and Rick is a Vice President of RAC.
Do we want to prepare new board resolutions authorizing him as a second signatory on the brokerage agreements for ENA, ECT Investments and Enron Credit Inc.?
Marie
| Signing Authority |
I have finally agreed with Dresdner on the form of Electronic Trading Agreement we are willing to sign with them.
Have you had a chance to review the website and the "product terms".
Let me know and we can coordinate.
Thanks, Anne
| Dresdner |
First Union Securities, Inc. Hello Sara.
I wasn't sure if we had finalized discussions on an EITF 0019 compliant confirmation for derivatives on Enron Corp. Stock.
I'll call you tomorrow to make sure you receive this.
<<ISUSUER.Put.00-19(7-20-01).doc>> This is for your information only and is not an offer to sell, or a solicitation of an offer to buy, the securities or instruments mentioned.
The information has been obtained or derived from sources believed by us to be reliable, but we do not represent that it is accurate or complete.
Any opinions or estimates contained in this information constitute our judgement as of this date and are subject to change without notice.
First Union Securities, Inc. (FUSI), or its affiliates may provide advice or may from time to time acquire, hold or sell a position in the securities mentioned herein.
FUSI is a subsidiary of Wachovia Corporation and is a member of the NYSE, NASD and SIPC.
FUSI is a separate and distinct entity from its affiliated banks and thrifts.
- ISUSUER.Put.00-19(7-20-01).doc
| sample confirm |
Sara and Marie, Mike Kustra was in to meet Gary for Morgan Stanley today.
Mike has been told that the only thing outstanding is the place of jusidiction and Chicago has been agreed to as the compromise.
Please let me know if this agrees with your view.
Thanks.
Sheila
| Morgan Stanley futures |
Sara, We have a Master Agreement with NAB Limited.
However, we are doing our FX trades with NAB London.
Presumably, this is simply a branch of NAB Limited which is headquartered in Australia.
Is this a mulitbranch agreement?
Does it cover trades with the London branch?
Let me know what you think.
Thanks!
| National Australia Bank |
Item 1.
Please refer to Section 7, particularly 7(b), of the ISDA form reg= arding transfer of receivables and the following setoff language from our s= chedule.
(g)=09Setoff.
(A) Upon the designation or deemed designation of an Early T= ermination Date the Non-defaulting Party or the non-Affected Party (in eith= er case, "X") may, at its option and in its discretion, setoff, against any= amounts Owed to the Defaulting Party or Affected Party (in either case, "Y= ") in Dollars or any other currency by X or any Affiliate of X under this A= greement or under any other agreement(s), instrument(s) or undertaking(s), = any amounts Owed in Dollars or any other currency by Y to X or any of X's A= ffiliates (irrespective of place of payment or booking office of the obliga= tion) under this Agreement or under any other agreement(s), instrument(s) o= r undertaking(s).
The obligations of Y and X under this Agreement in respe= ct of such amounts shall be deemed satisfied and discharged to the extent o= f any such setoff exercised by X and/or X's Affiliates.
X will give Y noti= ce of any setoff effected under this Section as soon as practicable after t= he setoff is effected provided that failure to give such notice shall not a= ffect the validity of the setoff.
For purposes of this Section, "Owed" sha= ll mean any amounts owed or otherwise accrued and payable (regardless of wh= ether such amounts have been or could be invoiced) as of the Early Terminat= ion Date.
Amounts subject to the setoff permitted in this Section may be converted by= X into any currency in which any obligation Owed is denominated at the rat= e of exchange at which X, acting in a reasonable manner and in good faith, = would be able to purchase the relevant amount of the currency being convert= ed.
If an obligation is unascertained, X may in good faith estimate that o= bligation and setoff in respect of the estimate, subject to the relevant pa= rty accounting to the other when the obligation is ascertained.
Nothing in= this Section shall be effective to create a charge or other security inter= est except as may be provided under applicable law.
This setoff provision = shall be without limitation and in addition to any right of setoff, netting= , offset, combination of accounts, counterclaim, lien or other right to whi= ch X or any of X's Affiliates is at any time otherwise entitled (whether by= operation of law, contract or otherwise).
Each of the parties represents = and acknowledges that the rights set forth in this Section are an integral = part of this Agreement between the parties and that without such rights the= parties would not be willing to enter into Transactions.
Each of the part= ies further acknowledges that it is executing this Agreement on behalf of i= tself as principal and, with respect to this Section, as agent on behalf of= its Affiliates, which Affiliates shall receive the benefits of this Sectio= n and otherwise be bound as if such Affiliates had directly signed this Agr= eement as it relates to this Section.
(B) Notwithstanding any provision to the contrary contained in this Agreeme= nt, the Non-defaulting Party or non-Affected Party, as the case may be, sha= ll not be required to pay to the Defaulting Party or Affected Party any amo= unt under Section 6(e) until the Non-defaulting Party or non-Affected Party= receives confirmation satisfactory to it in its reasonable discretion (whi= ch may include an opinion of its counsel) that all other obligations of any= kind whatsoever (whether pursuant to Specified Indebtedness as defined her= ein or otherwise) of the Defaulting Party or Affected Party to make any pay= ments to the Non-defaulting Party or non-Affected Party or any of its Affil= iates under this Agreement or under any other agreement(s), instrument(s) o= r undertaking(s), which are Owed as of the Early Termination Date hereof ha= ve been fully and finally satisfied.
The following are three areas of questions.
A.
Should a Counterparty effect an assignment of receivables under Section= 7(b) for a financing to Bank, what is Enron's "priority" position (assumin= g Bank has filed a financing statement)?
Is the analysis below correct?
1.
Bank takes receivable assignment under contract subject to Enron setoff= rights because Bank would be held to actual knowledge of the express setof= f right in the contract under which it is taking the receivables.=20 2.
Is there any method by which the Bank can prime Enron (assuming Enron h= as made no public filings) without Enron's written consent?
=20 B.
Assume a master netting agreement is in place.
I believe our assignmen= t provisions protect us and are more prohibitive than the ISDA; however, we= may want to expressly cite assignment of receivables rather than the maste= r agreement and transactions "as security".
Please review and advise of an= y particular language you think should be added.
=20 C. Do you have any suggested language that we might add to the form 7(b) p= rovision via our schedule, or is it necessary?
For example, adding at the= end of 7(b), ";provided, any such assignment shall be made expressly subje= ct [and subordinate] to this Agreement, including, without limitation, all = rights of [ENA] under Section 6 and [reference setoff section]."
Item 2.
Can I get any other comments on the revised draft of master nettin= g agreement?
| Setoff and ISDA Section 7(b) Transfer Provision; Comments on New Draft of Master Netting |
Good Afternoon Sara, I wanted to follow up to see what the status is regarding the Credit Suisse First Boston Equity Swap Basket documentation.
Please advise!
Regards,
| CSFB- Equity Swap Basket Documentation |
Sara, Please advise if you are still the lawyer who reviews RMT masters, when requested for preparation.
If so, Legal has been requested to prepare an ISDA between RMT and Enron Japan Corp., which shall support their FX transactions.
Let me know, so I can pass this draft on to you for review.
Thanks.
| RMT Masters |
Adam, To follow-up on our discussion from last week: With regards to the need for equity/certificates at the Trust level, this is really a function of the requirements posed by the investors.
Our tax group would defer to the underwriters.
If the note investors can tolerate equity treatment (for tax purposes), then there should be no need for certificates in the structure.
In previous transactions, the presence of certificates has allowed the notes to be treated as debt for tax purposes and therefore the payments treated as interest income.
With regards to cross-default, a default in the Enron note does not result in a default of the swap between Enron and the third party entity or a default of the swap between Enron and the financial institution.
Attached is a diagram of the prepay structure, as discussed last week.
Feel free to call with any questions.
Regards,
| Yen CLN follow-up |
Laurel and Jorge: Attached is the form of confirmation for Credit Suisse First Boston London Branch.
ENA is the confirming party and calculation agent.
Let me know if you have any questions or need anything else.
Marie
| Credit Suisse First Boston, London Branch |
Sara, Jeff Kinneman has suggested that perhaps legal could scan the executed document and edit the signature pages as opposed to recreate it since CSFB cannot provide the word document we requested.
However we decide to pursue this is still a priority as we are now shut off from trading.
Please advise as to what time frame we can expect the document to be completed.
Thanks,
| CSFB agreement |
Beginning at noon today, Mark Taylor will be out of the office.
He will return to work on Monday, October 22.
Numbers to reach him are as follows:
| Mark Taylor - Out of Office |
Sara and Marie, Can you fax the ENA agreement to Bob Georgio, head of Customer Accounts, 212-325-1987, Fax 917-326-8030?
I told him we got the ECT Investments back but have not seen the ENA since 7/6/01, when sent to CSFB, and have not gotten a response from CSFB on inqueries.
He wants to take a look at it.
The other contact I got was Marcel McNeal, 212-538-4415, Prime Broker accounts but we will try Bob Georgio first.
Sheila
| CSFB ENA agreeement |
Sara and Susan, Can I set up a 20 minute meeting with both of you to discuss an automated FX Trading system we are thinking about for the London office.
Shane Dallmann, head of the UK Rate & Currency desk is in town this week.
Susan, I am not sure if this is your world or not for TAX.
Thanks.
Sheila
| ENA automated FX Trading |
At Alan's request, please provide to me by e-mail (with a cc: to Alan) by Monday of next week your suggested changes to the September 2001 Monthly Report, so that we can issue the October 2001 Monthly Report by the middle of next week.
Thanks for your attention to this matter.
Nita
| EGM Monthly Legal Report for October 2001 |
Hi Sara!
Sheila asked that I put together a list of key questions we want to go over with you.
So here it is!
Thanks for all of your help!
| questions |
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| Glocap- Selected Favorite Headhunter by Forbes.com |
sara, as discussed attached is a cleaned up redlined version of the schedule.
as you know, there are still several open issues, but hopefully, it will be easier to work from this document.
in the meantime, i will work on redlining the csa and reviewing some of the open issues in the schedule that are in my court.
thanks for your help and have a great weekend!
<<enron isda 8-29.doc>> - enron isda 8-29.doc
| cecony-enron redlined isda schedule |
Sara-thank you for looking into this issue for us.
Here is a brief summary of what occured.
UBS and Enron entered into a Sterling-UBS spot transaction on 11-19-01, which both parties confirmed and settled on 11-21.
(UBS pays USD 7,083,500 and receives 5 mio sterling).
On 11-21 UBS and Enron erroneously confirmed the same trade again for settlement on 11-21.
UBS made a second USD 7,083,500 payment to Enron's account at BA-Dallas on 11-21 (payment reference: FED IMA 1121B1Q8052C001081).
UBS did not receive the Sterling it was expecting and for the next few days Enron and UBS tried to resolve the non-payment based on a mistaken assumption that Enron owed 5 mio Sterling to UBS.
On 11-28, UBS realized that the trade was duped and on 11-29 informed Enron of the nature of the error and requested that the USD payment be returned.
Enron agreed to return the USD payment on 11-29.
The returned payment was never received.
| UBS FX payment |
Per our discussion this morning I have attached the new form for our confirms.
Please let me know if further changes are necessary.
Thank you for your help!
| New Confirm Template |
Alan and Wayne: We received a letter from AEP Energy Services Inc. terminating all coal transactions with ENA as of 12/1.
The letter states that they shall begin liquidating the contracts on 12/3.
We have been instructed by Sally Beck's group to identify any terminated transactions that should be taken out of the book.
Should these and if so, which transactions are these?
| Coal Termination |
Attached are the draft ConfirmLogic documents for Entergy Koch for your review.
Prior to this going to a wider circulation within Enron for comment I would appreciate any comments or suggestions on the structure and format.
There are many definitions in these documents that will need careful review to ensure that the end result is consistent with our practice.
Exhibit A needs to be modified so that the Index name is consistent with what will be input into ConfirmLogic.
There are also some missing variables in certain of the indexes that will need clarification.
Please let me know if you have any questions or comments.
Regards,
| Entergy Koch ConfirmLogic |
Leslie Sara, and Brent: Could I get an update on were we are with the top 20 customer amendments.
Last week we got 5 amendments for power physical but we still haven't received any amendments for financial.
Entergy-Koch is very interested in ConfirmLogic and have asked for the amendments.
When can we get the amendments for Entergy-Koch completed?
Thanks,
| Amendments Status |
Sara, Per your conversation with Phil Levy, attached please find our proposed amendment to the Interest Rate and Currency Exchange Agreement currently in place between The Chase Manhattan Bank and Enron North America Corp.
I have reviewed the definition of "Specified Swap" as defined in Part 1(2) of the Schedule and it does not appear to include foreign exchange transactions.
Therefore, I have modified the definition in the amendment.
Please review the amendment and, if satisfactory, arrange for the execution of two copies.
Both copies should then be returned to my attention at 270 Park Avenue, 40th Floor, New York, New York 10017.
In addition, once executed, I would appreciate your faxing me a copy at 212-270-7368.
Once I receive the originals and have them executed by Chase, I will return to you one fully executed original for your files.
| Amendment to IRCEA |
Sara: As per our telephone conversation, Bill Bradford and Anthony Lupiano have reached agreement in regards to the credit Threshold matrix.
The credit rating and thresholds are as follows: BBB+/Baa1 or above: $15 million BBB/Baa2: $10 million BBB-/Baa3: $5 million Below BBB-/Baa3: Zero Attached you will find a revised Fourth Amendment.
Please arrange for it to be executed and return to my attention.
Many thanks and regards,
| Fourth Amendment to Master Agreement |
In connection with the Legal costs allocations for 2002, what percentage of your time do you think you would spend on EGM matters?
The accounting group who is asking for this information realizes that this is a guess on your part.
Thanks, Alan
| Cost Allocations |
The attached document is being forwarded at the request of Sara Shackleton.
Please let her know by email whether or not you have any objection to execution of the attached document.
Tim Despain is okay with it.
| Morgan Stanley & Co. Draft |
Can you get together today to discuss Clorox and the meeting you had with credit last week?
I have a meeting today at 11:00 but other than that I am wide open, so just let me know what works for you.
Thanks,
| Clorox |
I have gotten a call from Roger Mock, CEO of American Public Energy Agency, regarding a series of transactions.
In 1999 we (ENA through Enron Natural Gas Marketing Corp.) entered into a 12-year prepay.
We got approximately $297MM in cash up front, with delivery obligations at various delivery points, including NNG-Demarc, Rockies, TW-SJ, NIT, Topock and Sumas over the life of the deal.
Currently the end users are Clark Public Utility District (Washington State), City of Glendale (California), City of Pasadena Water and Power Department (California), and Sacramento Municipal Utility District (California).
It is my understanding that ENGMC is not currently in bankruptcy.
I am sending down to Mike's attention a CD with the project documents on it.
I apologize in advance for the absence of a table of contents, but I felt lucky just to get the information.
Teresa Bushman may have a hard copy of the documents.
| APEA Gas Prepay Transaction |
Mary: Pursuant to Sara's request, I am attaching a list of the brokerage agreements and other documentation we either currently have in place or are negotiating with Goldman, Sachs et al.
Please let us know if you have any questions or need anything else.
Marie x33907
| Goldman Sachs, et al |
Mary Cook has requested that you attend a meeting tomorrow morning (Tuesday, October 30) from 10:00 to 11:00 in EB38C2 to discuss master netting agreements.
The directive Mary has presently been given is that we will be preparing various master netting agreements and she would like to solicit as much additional help as she can.
If the directive changes before the meeting tomorrow, we will advise everyone.
Please review the below attachments prior to the meeting if your schedule allows.
Thanks!
| Meeting regarding Master Netting Agreements |
Kim, Here are the draft documents with comments from Mark.
I need your input to make sure that the settlements group would understand the terminology the same way I have defined it.
I have followed strict ISDA definitions which is not how we typically draft our documents.
If we need to I can meet with you to discuss how this is to be structured.
Kathryn, How was it envisioned that ConfirmLogic would handle the difference between the Term of the Underlying Transaction and the exercise period of the swaption?
Leslie, I modified the ERCOT definitions to make them consistent with the latest draft you sent me.
There are two floating price definitions that appear to have additional variables in them.
(The Megawatt Daily Index Daily and the Megawatt Daily Index Forward.)
How were these additional variables to be handled in ConfirmLogic?
Additionally the headings of each of these Floating Price descriptions do not seem to be consistent with the pub code designation that will be used in ConfirmLogic.
Are the descriptions going to be updated to be consistent?
Please let me know if anyone has any questions or comments on the draft documents.
Regards,
| Entergy Koch |
Brian: Thank you for meeting with myself and John Malowney today to discuss the opportunities for Enron and Tri-Met to work together.
As we discussed, in order for Enron to provide either physical or financial products as an Oregon Direct Access ESS provider, the EEI and ISDA contracts that we left with you today will need to be executed.
Please feel free to contact the following individuals in our legal department at Enron to discuss the documents in more detail.
| Enron / Tri-Met Legal Follow Up |
Attached is the one I did for Mirant.
Remember to refer to the memo from Kim Theriot which I previously routed to everyone.
This draft includes the considerations of Francisco and Brent as well.
Note the isda paper/pulp provision was also added because the Mirant isda was old.
| EOL Consent and Amendment Example |
Sorry.
I forgot that we went in and deleted the annex a short while ago to save some fax time and paper.
I have gone back and pulled a confirmation that was prepared on the EOL GTC when the annex was still attached.
| EOL template |
Sara, Here is the language for "Binding Effect".
Please take a look and l= et me know if it gets you what you need.
I've attached the Assignment and = Assumption agreement for your review.=20 Regards,=20
| Proposed language for section 8(b) "Binding Effect" |
Shane: Attached for your further handling is our standard "sample" ISDA Master Agreement.
Please don't hesitate to contact either Sara (x35620) or me (x33907) with any questions or comments.
Marie
| "Sample" ISDA Master Agreement |
First Union Securities, Inc. Ms. Shackleton, Attached find a revised draft ISDA Schedule, both a marked copy and a clean copy, for your review.
We just made a few changes to the draft ISDA Schedule to mirror the Schedule to the ISDA Master Agreement in place between First Union National Bank and Enron North America Corp.
Please note that we have added a Credit Support Annex as a Credit Support Document.
Could you please send a CSA Paragraph 13 in the form previously agreed in the Enron North America Corp. ISDA Master Agreement.
<<Schedule 7-20-01 vs. Ctpty draft Schedule.doc>> <<Schedule 7-20-01.doc>> Also, as the parties may enter into EITF-0019 compliant trades, we would like to duplicate the current ISDA once we've agreed on the terms, then delete the Set-off provision and Credit Support Annex from the ISDA and execute this pared down ISDA to cover 0019 trades only.
We believe it would be beneficial from a netting perspective to execute separate ISDAs to cover 0019 trades, on the one hand, and any other equity derivative trades which the parties may enter into, on the other hand.
Could you advise if this is satisfactory.
We look forward to hearing from you.
Thanks and regards,
| ISDA Master Agreement between Enron Corp. and First Union Nationa l Bank |
Note, this log is slightly different from Clara's file--it does not include the A/R and A/P items.
But, we will be updating that spreadsheet as well today.
I've gone through the Termination letters that I could find, and have updated the sheet accordingly.
| updated Termination log |
Gary Hickerson will be attending a Management Committee meeting on Friday, January 11 from 8:00 am to 2:00 pm, therefore, there will not be an EGM Organizational Post Petition Meeting on Friday.
The next meeting will be held on Monday, January 14 at 9:00 am CST in conference room ECN 30C1.
Please plan to attend or use the call in number shown below:
| EGM Organizational Post Petition Meeting |
Art, Enclosed you will please find our SEC 13 Filing for ECT Investments, Inc. as of 12/31/01, due for submission on 2/14/02.
Please prepare for filing.
We are filing zero positions.
As soon as you get back to me I will approve for the 2/14/02 submission.
You may call me at 713-853-3210 if you have any questions.
Please send Bowne's bill to my attention at 1400 Smith Street, EB 3066d, Houston TX 70002-7361 Regards,
| SEC 13f filing for ECT Investments Inc. as of 12/31/01, submission due 2/14/02 |
Following up on my voice mail.
Chris Calger is looking for the underlying documentation for the swap between Enron Natural Gas Marketing Corp. and Chase entered into on April 9, 1999.
A similar swap was entered into between the American Public Energy Agency and Chase on the same date.
A transaction diagram for the transaction is attached for your reference.
Please call either Chris or me with any questions.
Thanks.
| APEA Gas Prepay Transaction |
I've learned that there is a netting agreement with FPL, on their form.
Only ENA signed it, although it attempts to include all commodities.
This netting agreement doesn't show up on the master netting list, so I thought I would mention it.
Kay
| Florida Power & Light |
Sara: We have a situation in Mexico that we need to address fairly soon.
In a nutshell, we were negotiating a master with this counterpartty for a long time and at a certain point we (with credit approval) entered into a transaction and a day later we agreed on the final terms of the Master.
We sent them final execution copies in one day and Enron filed for bankruptcy 2 days later.
They never signed the docs and we never confirmed the transaction because we were waiting for the master.
They now do not want to send us an execution copy of the master because it provides for automatic early termination.
I will stop by your office to discuss.
I will be talking with this counterparty tomorrow to propose some solution but would like to have your views before talking to them.
WE are about US$1MM in the money with these people.
Thanks
| Mexico |
Debbie and/or Tanya: Could you please send me an updated list of LC's that we have posted and that have been posted to us.
Also, could you please send me a margin report that sets forth margin posted to and from our trading counterparties?
We will be beginning the process of responding to termination letters and this information will be helpful to us.
Thanks.
| LC's and Collateral |
Greg and Georgeanne, There is a working group reviewing whether and when RMT should file for bankruptcy protection.
Greg's group provided a November 30th trial balance for RMT, but we need a more "user friendly" and more recent (if possible) balance sheet and income statement for RMT.
As I'm not sure which one of you I should ask, given all the developments with the new trading company, I am sending this request to both of you.
Consequently, could you please have someone in your group send us this information?
Also, we need more information on ERMT, a company that was set up in November.
Is there someone in your group to get information on this company?
As always, I really appreciate your help.
Best regards,
| RMT Working Group - Financial Information Request |
Susan, Sorry about the previous attempt.
This is the list of counterparties.
We need to know if we can disclose to third parties that we have traded with them and the volumes associated with the trades.
Thanks for your help.
Call me if you need clarification.
Thanks for your help,
| Forest Products Trading Counterparties |
Jim and Gary, I would change the $64 million to $45.6 million for Rate & Currency.
The $45.6 is after consideration of the collateral posted for GSCM.
I have not included CIBS and J. Aaron which will require more time because it includes trading positions from several other Enron groups and significant collateral has been posted.
If you do want to include, I would list as 3.3 using a pro-rata spread of the collateral and list separately as harder to get.
We have other positive position where Enron is net negative or more collateral has been posted (e.g JPM).
The Broker Deposit number for Equity Trading should be removed.
We only have about 160,000 left to get back currently.
Sheila $ in millions Rate & Currency MTM and Net A/R and A/P Net Goldman Capital Makets 34.8 17.2 collateral; 50% attibuted to R&C; 50% to weather 26.3 RBC 14.2 14.2 SEB 4.2 4.2 WLB 0.9 0.9 Subtotal 54.1 45.6 CIBC 2.0 collateral posted 9.9 Total Enron postion Est.
37.5 J. Aaron 4.8 collateral posted 11.2 Total Enron postion Est.
17.9 Subtotal 6.8 Postive R&C total with Positive Enron Total 60.9
| Rate & Currency $45.6 million |
All, Attached is the 11/30/01 file which is probably the best information we have.
I have screened it so that it only includes those counterparties with financial mark to market exposure.
Additionally, I screened out all Enron entities except for ENA, ECC, and EPMI.
While I cannot guaranty that the data is completely accurate, it should give you the starting point you need to proceed with processing/prioritizing financial terminations.
Obviously, the values will be different from what is specified here based on the Termination Date specified by each counterparty.
Thanks,
| FMTM by counterparty as of 11/30/01 |
Sara - I am coming to Houston for a cousin's Bar Mitzvah on May 18th.
Can I stay at your house?
I can interview you then.
Sam
| Visit |
It is apparent after several conversations last week that we need to come to some agreement on the termination criteria for the financial contracts.
Can we all meet at 11:00 am on the 5th floor in ECS.
I will come back to you all with a room number.
Sara - will you please bring the most recent copy of your list of all counterparties and expected terminations.
Thanks,
| Financial Terminations |
I would like you to verify the open ENE positions.
Both Jeff Nogid and Steve Ross are gone and they did all the day to day handling.
I show the following are the only open ENE positions: Counterparty Deal # Shares Comments Warburg Dillon Read 1321176 205,000 Phantom shares Credit Suisse 192749 400,000 Equity swap Credit Suisse 6180927 1,025,000 Forward Credit Suisse 6180929 1,672,000 Forward NBMS 6,400,000 Options Jill
| ENE positions |
Here's the file showing which brokers owe us cash as of close of business 1/24/02.
Look at the "0124" tab and under the "Wire Day Cash In/Out" column.
The $95.6MM represents the amount each of these brokers owes to us (We owe HSBC $2,132).
Also, I sent figures to Steve Van Hooser and Mark Taylor on 12/5/01 for the exchange amounts that were due as of 11/30 and 12/4 for $58.4MM and $87.3MM respectively.
Currently all of our exchange positions are closed.
Thanks,
| Exchange Cash |
I am trying to determine if there are any of the LC's expiring in January that we can request renewal for.
Veronica were you able to narrow down the list to ones that are non-terminated where Enron is still exposed?
Please call to discuss.
Regards,
| Renewal of LC's |
Sara, These are the trades from Enron Credit done in the name of ECT Investments Inc.
They are all done with Deutsche Bank.
Sheila BO Ref Issuer Company Cparty username_posmgr Start End Ccy Notional fixed_rate Closing USD PV 253 Asia Pulp Paper 867 Deutsche Bank Ag CORP\DLEE6 10-Apr-00 14-Mar-01 USD - 20 - 251 L-3 Communications 867 Deutsche Bank Ag CORP\NSTEPHA 10-Mar-00 15-Mar-03 USD 3,000,000 4 (454,404) 254 Rep Indonesia 867 Deutsche Bank Ag CORP\DLEE6 15-Mar-00 1-Aug-06 USD (5,000,000) 6 379,375 883 Triplets 867 Deutsche Bank Ag CORP\DLEE6 2-May-00 2-May-05 USD 5,000,000 6 (890,589) (965,618)
| ECT Investments Outstanding trades from Credit |
What are your thoughts on terminations of ISDAs that are really late?
for example, the new york times declared 1/25/02 as the termination date, citing the bankruptcy which was 12/2/01.
While newprint valuations may not have moved very much due to the low volatility, what about companies who have other products?
They can just be waiting until the marks are in their favor to terminate.
Is there any way to prevent and how are we handling, if at all?
| ISDA Terminations |
The meeting is at 1:00 p.m. today.
Aaron, if you come to my office we will walk over to Sara's office and have the meeting there.
I have spoken to Francisco and got a good data dump from him - - there is no need for him to join us this afternoon.
I have the trader's name - - we should call him during our meeting.
In order to move forward we need three things: 1.
The PwC valuation of the financial contracts; 2.
A better understanding of the physical contracts and what happened; 3.
A good data dump from the trader.
Once we have this information we should approach SDGE.
Let's aim at having "first contact" tomorrow morning.
| San Diego Gas and Electric |
Please note the time change for the the EGM Org.
Post Petition meeting.
The meetings scheduled every Monday and Wednesday will now be held from 9:30-10:30 am CST in ECN 30C1.
The next meeting will be held Monday, February 4.
Please plan to attend or use the dial-in number shown below:
| REMINDER -- TIME CHANGE --EGM Organizational Post Petition Meeting |
Sara, I reported the outcome of our meeting to Raj.
He requested that you circulate the proposed letter to Goldman prior to sending it.
In the meantime, he is trying to have the work completed to arrive at our number for the positions.
Paul
| Goldman |
New time for tomorrow only!
REMINDER -- The EGM Org.
Post Petition Meeting will be held on Wednesday, February 6 at 9:00 am in conf.
room ECN 30C1.
Please plan to attend or use the dial-in number shown below:
| REMINDER -- EGM Organizational Post Petition Meeting |
Mary, Do you have an Enron North America Corp. bank account I can use for Goldman Sachs.
The hedge book is in a grouping of accounts under ENA.
In the past, we have wired to ECT Investments Inc.'s Citibank account but this is probably not a good idea at this time.
The amount is $985,614.39.
Please advise.
Sheila
| ENA Wire instructions |
It has come to our attention that a group of employees missed their January 15th 401-K deduction.
This was due to an incorrect employment status being fed by ENRON's SAP system to our 401-K vendor which resulted in your contribution amounts being defaulted to zero.
Your 401-K contribution amounts were restored for the January 31, 2002 payroll.
If you would like to have your contribution for the January 15, 2002 pay date taken on the February 28, 2002 pay date please respond by February 14, 2002.
If we do not receive a response by February 14, 2002 we will assume that you have decided not to have a make up 401-K contribution for the one missed on January 15, 2002.
We are trying to be sensitive to the possible hardship a double deduction could have on your personal financial situation.
If you are not contributing the maximum percentage you could make an adjustment to your contribution percentage going forward to accomodate the missed January 15, 2002 contribution.
As always we encourage all employees to review your investment elections to ensure they are consistent with your investment goals.
| Employees who missed their 401-K contribution on the January 15, 2002 paycheck |
Sara, Scott Underberg said he would prefer to wait until we're sure that the information is complete and correct.
Could you give me a guesstimate as to when we might have this?
Thank you,
| Ernst & Young Request |
Many of you have inquired about January reimbursements to 2002 flexible spending accounts.
Aon Consulting, Enron's flexible spending account administrator, has experienced some processing delays.
Aon has encountered difficulty in retrieving spending account deduction information, and some deductions are not appearing in Aon's records.
Enron Benefits is working with our IT group to help Aon resolve this issue.
Also, unprecedented activity at the end of 2001 flooded Aon with year-end claims.
Aon has assured us that 2001 reimbursements are now up-to-date, and that they began processing 2002 reimbursements on Monday, February 4.
Questions regarding flexible spending accounts can be directed to georgia.fogo@enron.com.
| Flexible Spending Accounts |
PLEASE EMAIL YOUR TIME EXCEPTIONS TO SUZANNE ADAMS FOR THE ABOVE-REFERENCED TIME PERIOD.
SHE WILL BE TAKING CARE OF THEM--YOU HAVE CHANGED COST CENTERS--YOU ARE NOW IN COST CENTER 105654.
SINCE SHE WILL HAVE QUITE A FEW THIS TIME, PLEASE GET THEM TO HER AS SOON AS YOU CAN.
| Time exceptions for period from Feb 1st thru Feb 15th--PLEASE EMAIL SUZANNE ADAMS |
Sara, Have you been able to get any information on the corporate ownership of EFET.
ABN/AMRO requries this information to make decisions on the disposition of their trades with us.
Ideally, they would like a corporate org.
chart and balance sheet.
I am also going to contact Ted Murphy and Eric Shaw.
Thank you
| ABN/AMRO |
Sara, I have prepared the 3 individual Master Logs for the relevant Enron affiliates managed out of the London office (ECTRIC, Enron Credit & EFET).
You said you would help me craft my email message to Ted & Mary Nell, so I have attached my proposed message.
I look forward to your response and the revised message.
| London Master Log |
Sara, 1) You can contribute a max.
of 11K to your 401(k) in 2002.
2) Accruals to the cash balance plan is made monthly.
Has Khymberly Booth contacted you?
If not, you can call her at 5-2532.
Thanks,
| Your questions |
When: Wednesday, February 13, 2002 1:00 PM-2:00 PM (GMT-06:00) Central Time (US & Canada).
Where: TBD *~*~*~*~*~*~*~*~*~* This is to discuss process and set priorities w/ regard to financial contracts.
Sara and Alan: please include your support staff working on gas financial contracts.
Thanks
| Gas Financial Contracts - Process, Priorities |
When: Wednesday, February 13, 2002 1:00 PM-2:00 PM (GMT-06:00) Central Time (US & Canada).
Where: 38C1 *~*~*~*~*~*~*~*~*~* This is to discuss process and set priorities w/ regard to financial contracts.
Sara and Alan: please include your support staff working on gas financial contracts.
Thanks
| Updated: Gas Financial Contracts - Process, Priorities |
Mark Quaglia, an associate in the capital markets group from New York, will be flying here either tonight or first thing in the morning to review confirmations.
He is planning to stay overnight on Thursday.
Will there be a checklist for him to use in gathering information from the documents, or should we meet to develop something?
| review of confirmations |
As we build the matrix of data discussed yesterday in our meeting we are encountering some missing data.
Below is a list of counterparties which are listed as terminated (in at least one of the various lists of counterparties we have) but which don't have termination dates.
BP Corporation North America Inc. ConAgra Trade Group, Inc. Deutsche Bank AG New York Branch Hallwood Energy Corporation IGI Resources, Inc. NJR Energy Corp. Can you please reply with termination dates for these counterparties.
Let me know if you need additional information.
Thanks
| Terminated |
This note is to confirm that Gary Hickerson has requested your attendance at the EGM Organizational Post Petition meeting on Wednesday, February 20 from 9:00 a.m. to 9:30 am in ECN 30C1.
Following the meeting the EGM Asset Disposition meeting will take place from 9:30 a.m. to 10:30 a.m. in ECN 30C1.
Please plan to attend or use the dial-in number shown below:
| REMINDER --EGM Org Post Petition Meeting |
Notice No: 02-60 February 20, 2002 NYMEX HOLDINGS, INC.
CANDIDATES' FORUM Please be advised that a NYMEX Holdings, Inc. candidates' member forum is scheduled to be held on THURSDAY, MARCH 7, 2002 at 3:00 p.m. on the 10th Floor of the Exchange, One North End Avenue, New York City.
At that time, each candidate will be given the opportunity to address the membership regarding the 2002 Annual Elections scheduled to be held on Tuesday, March 19, 2002.
| (nms-60)NYMEX HOLDINGS, INC. CANDIDATES' FORUM |
Joe, I faxed the Cleary, Gottlieb letter to you.
Please forward the Enron North America Corp. check to Laurel Adams, ECS 04487.
Many thanks for all your assistance.
Sheila
| $1.5 Check |
Alan, There is an outstanding $4m receivable due from Enron Re to ENA and various premiums in a lesser amount due from ENA to Enron Re (in relation to cover for the AIG puts).
The EGM people are talking about offsetting one against the other.
The rationale behind this "internal" settlement is not obvious to me but I am likely not in possession of all the facts.
Do you know anything about this?
How do you propose we handle?
Thanks in advance.
DEC
| EGM/Enron Re |
Ed made the point that we need to make sure we have picked up all commodities associated with the contracts we send demand letter for.
I'll talk to Angelo to see if he picked up all commodities.
If not we may need to slow down (unfortunately) in order to sweep the landscape for other commodity unpaid invoices (besides gas).
See you in the morning.
| Demand Letters - All Commodities? |
Pat, Please move the following counterparties from the terminated book to the live book.
These are for financial transactions only.
Hess Energy Services Company, LLC FLORIDAPOWCOR Florida Power Corp MARATHON Marothon Oil Company COLUMBIA ENERGY Columbia Energy Services Corporation ALABAMAGASCOR Alabama Gas Corporation LAMINADODEBAR Laminados de Barro, S.A. de C.V Please move the following from Live to Terminated-Financial only.
Hess Energy Trading Issues: SUNCORENE Suncor Energy Inc. is listed in the Live ENA book....but this counterparty has agreement with Enron Canada.
Tagg indicates that all its financial deals are listed with ECC.
This CP should be terminated for ECC, but it should never have been included in ENA's books?
I am not quite sure where the mix up is...can you help resolve?
The Consumers Gas Company - It looks like this CP does not have agreement with ENA, but does have one with Canada.
ECC financial transactions have been terminated.
Can we verify if any financial deals were done under this CP for ENA?
Consumers Gas Company LTD., The should be moved from Terminated to Live...until this issue is resolved.
Once these changes have been made, can you please provide updated book values for the terminated and non terminated books.
Thanks
| CP changes and new values |
Steph: FYI, I had a conversation with Estella Chu (sp?)
of GLCC this morning.
She wanted a monthly MTM report (which apparently Craig Breaslow's (sp?)
group used to provide) and also wanted information about terminating the contract.
I instructed her to fax to you and write-in to the contract notification address her issues, including her request to terminate.
She also asked for your phone number, which I provided, so you may be getting a call from her (or may already have received a call from her).
| Great Lakes Chemical Corp. |
Sara, As per your request, attached is the list of all non-terminated financial liquids trades provided to us by Commercial.
I have compared this list against the report that Samantha Boyd provided to me earlier re "In and Out of the Money Positions as of 11/30/01".
Out of the 51 trades, only 2 are not listed in the report, 5 fall in the "out of the money" category, and the other 44 fall in the "in the money" category.
We have set up files for all 51 trades, and review of the top 10 has been completed by Weezie.
Please let us know if you have any questions regarding the attached report.
Regards,
| EGM Liquids Non-Terminated (Financial) |
Brent and Sara: Here is where we ended up yesterday after discussing the LC situation with Debbie: 1.
Debbie and her group will initially review each LC that has been posted to Enron to determine if it is "transaction specific" or if it covers all trades with the counterparty.
If it is transaction specific and the counterparty has performed, then no further action is required.
If the counterparty has not performed then Debbie will work with us to see if a draw can be made.
2.
If the LC covers all trades, Debbie will send copies of the LC and the transactions docs to me and we will determine what rights, if any, we have to draw.
Each month, we will focus on those LC's that are due to expire that month.
Call me if you have any questions.
We will distribute the work to the trading lawyers as the need arises.
| Collateral and LC Issues |
We know how interested all of you are in the Retention & Severance Plan, so we want to update you on its status.
As many of you know, we have been working with members of the Creditors' Committee and their consultants since December to formulate a Retention & Severance Plan, and we formally presented the plan to the committee on Friday, February 22.
We had hoped the committee would approve the plan quickly so that we could file it with the bankruptcy court and share the details of the plan with you before the end of the month.
We know that many of you have career options outside of Enron and that the Retention & Severance Plan may impact your decision to stay or to leave.
We sincerely regret to inform you that approval of the plan for debtor companies is delayed.
We're learning that, in bankruptcy, most things don't move as quickly as we are accustomed.
The committee outlined some concerns related to our proposed plan, but we are confident we will be able to reach agreement with the creditors on those concerns.
The Creditors' Committee fully supports the implementation of a Retention & Severance Plan.
Such plans align the company's objectives with the goals of the creditors and are fairly standard in bankruptcy.
These plans are designed as a way to preserve and maximize value for the estate.
The Creditors' Committee also understands that time is of the essence for getting a plan in place and has established a subcommittee to expedite their review and approval process.
To that end, we are meeting regularly with the subcommittee.
We intend to work hand-in-hand with them to reach agreement on an acceptable plan as quickly as possible.
This is currently our top priority, bar none!
When we filed for bankruptcy, we did not fully grasp how tedious the process of developing an acceptable plan would be.
Unfortunately, that lack of understanding led management to set unrealistic expectations about how quickly a plan might be in place.
We now know that it takes significant time, resources and effort to understand, identify and gather the massive volume of required details, to formulate that information into a reasonable program, and to prepare a rationale and compelling presentation.
The process mirrors the most time-intensive business presentation or deal negotiation with which Enron has been involved.
That serves only as an explanation - it is not intended as an excuse.
We remain committed to working with the Creditors' Committee until we can reach agreement on a plan.
We anticipate that negotiation process will take another week or so, and have targeted the week of March 11 to file a motion to adopt a plan with the bankruptcy court.
We will continue to hold retention and severance as our number one priority until a plan is approved by the bankruptcy court.
With respect to non-debtor companies, or those companies not in bankruptcy, new severance plans are being approved and will be rolled out to employees in those companies in the very near future.
In the meantime, we have been working to finalize merit increases and promotions across the entire organization and plan to communicate those to employees next week.
And of course, we will update you on retention and severance as soon as possible.
| Update on Retention & Severance Plan |
Working w/ Sara Shackleton we have prepared demand letters for all ITM live financial book counterparites who are also in default on invoice payment.
In total there are about 45.
The objective is to either collect the cash or move the counterparty into terminated status.
Our plan is to begin sending letters today.
Ed McMichael asked me this morning to notify you of this action.
Do you have any issues with our plan?
(I cannot imagine the Creditor's Comm.
or E&Y would not want this to occur.)
Call if you have questions.
| Demand Letters |
Sara, Is it possible to get a soft copy of the revised termination letter we discussed a couple of days ago?
We would like to see the paragraph referencing how the counterparty arrived to the calculated amount and the request for supporting list of transactions.
Thanks.
| Revised Termination Letter |
Sara, We have reviewed the list of D/F parties missing from the gas open position that was provided to Louis.
All of the CP's were identified in our books as in the money or out of the money transactions except the following: Eugene Water & Electric Power only-not in Tagg General Electric Company No Gas, Unleaded Fuel HQ Energy Services Power only-not in Tagg International Paper Company Does not show up in Credit Agg-No exposure?
Solitair Corporation Does not show up in Credit Agg-No exposure?
Small Ventures USA Gas-No exposure-Credit Agg and Tagg indicate Swaption has expired The Kroger Co.
Does not show up in Credit Agg-No exposure?
Tom Brown Inc Does not show up in Credit Agg-No exposure?
TransAlta Energy Power-not in Tagg Wells Fargo Bank Does not show up in Credit Agg-No exposure?
Wexford Spectrum Does not show up in Credit Agg-No exposure?
Maria Garza x37019
| D/F CP's missing from Gas |
Sara, I sent you an invitiation to a meeting earlier today and noticed that I scheduled it for last Saturday; my apologies.
Anyway, Louis and I are trying to get together with you and Alan Aronowitz to get up to speed on the status of Live CP's that were sent Demand Letters and to begin determining a process for moving ahead with terminated CP's.
We are able to meet in your building at whatever time works best for yours and Alan's schedules.
Mike Bridges
| Live and Terminated CP status update |
As we move forward with CPs we need to know weather there is 1-way or 2-way termination payment methodology in the contract.
(Plan is to add a column to our spreadsheet to track this.)
You have mentioned that almost all CPs are 2-way.
What is the best approach to determining which CPs are 1-way versus 2-way?
Additionally, there is other data we need to complete our spreadsheet, such as: Contract type (ISDA, GTC, other) Global contract number What are your thoughts on getting this information?
| CP Contract Information |
Recall that you provided invoices for the purpose of attachments to demand letters for live non-pay CPs.
The letters have begun to go out.
I suspect some CPs will notify us of their intention to either 1) pay or 2) not-pay based upon some specific grounds.
For those CPs that don't respond at all as well as those who indicate that they will pay, I need to know who we should contact to determine weather payment was received.
Please provide a contact person for this task.
Thanks
| Demand Letters |
We are attempting to complete the missing information on our spreadsheet.
To that end, below are live CPs that have been reviewed for the purpose of sending demand letters.
However, because they are live we cannot determine what type of contract they have.
(Our source for this information has been the Master Terminated Log.
These CPs are obviously not included therein.)
Please provide next to each CP below the contract type.
COUNTERPARTY: CONTRACT TYPE Texaco Natural Gas Inc.
Select Energy, Inc. Nevada Power Company Johns Manville International, Inc Stone Energy Corporation Clinton Energy Management Services, Inc Florida Power Corporation Imperial Holly Corporation Old World Industries, Inc. Rochester Gas & Electric Corporation Navajo Refining Company Coast Energy Group, a division of Cornerstone Cross Oil Refining & Marketing, Inc. Kern Oil & Refining Co. U.S.
Brick Company Municipal Gas Authority Of Florida TRC Operating Company, Inc. Lauscha Fiber International Corp. Whirlpool Corporation Central Illinois Light Company EOTT Energy Partners LP Tri-State Generation and Transmission Association, Inc. Scana Energy Marketing, Inc. AIG Commodity Arbitrage Fund Limited AIG Commodity Arbitrage Fund LP TotalFinaElf Gas & Power North America, Inc.
Thank you for your support.
| Contract Type Request |
Per my voicemail, how about speaking in 20 minutes (3:00 my time) or 4:00 my time?
If these don't work, please let me know what works for you tomorrow.
I'm wide open on Thursday.
Thanks.
| Call |
Some of you may have entered updates to your personal information in eHRonline from Friday, March 1 through Monday, March 4.
However, we experienced some problems with the HR system during this time, and it is likely that certain updates were lost.
If you made an update during this period, please return to eHRonline and review your information particularly for the following four categories: Banking information for direct deposit Tax W-4 information Home address Emergency contact Note that the first three categories above are related to payroll.
We are processing payroll for March 15.
If updates are needed for your March 15 paycheck, please eMail your update and P # to "HR Service Connection" before 11 a.m. on Thursday, March 7 for immediate processing.
Put "eHRonline Update" in the subject line and send as urgent so we can expedite processing.
For any updates applicable for future paychecks or non-payroll related, please re-enter your information directly in eHRonline.
Thanks and we apologize for the inconvenience.
| eHRonline Updates |
There is a requirement to identify all executory contracts--that is all contracts that are currently active and still have performance required by one party or the other(s).
You each have probably already been asked to list those for somebody as part of the gathering effort.
If you have not, I am asking that.
| executory contracts |
All, I have confirmed that the following invoices for Williams Production RMT Company ("Williams"), were sent under ENA's Demand Letter dated March 1, 2002: Invoice Nos.
020168809 0202142 020169166 01121094 01121761 Please note, the only Invoice not included with ENA's Demand Letter to Williams was: 0203094.
Therefore, advise as to whether this invoice also relates to Williams and why it was not included with ENA's letter of March 1st.
Further, please advise if the $7,686.87 interest check relates to all the invoices, including Invoice #0203094.
Thanks.
| Williams Production RMT Company--Financial Invoices |
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