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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: ... | 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 fift... | 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 Ke... | 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 Be... | 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 docume... | 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 ... | 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... | 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 ca... | 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 th... | 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 ... | 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 ... | 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 |
Dear Sara: I hope that you are well.
Glocap Legal Search is one of the fastest growing in-house legal recruiting firms in the nation.
We have worked very hard to create a truly unique and powerful legal recruiting company and we were gratified recently when Forbes.com selected us the best recruiting website in the c... | 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.
thank... | 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 sa... | 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.... | 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 e... | 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 amendment... | 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 i... | 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 ... | 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-Dema... | 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 a... | 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 ho... | 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... | 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 C... | 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 ... | 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.
Plea... | 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 tran... | 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 executi... | 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 i... | 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 ... | 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... | 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 ... | 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 ... | 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 s... | 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 exch... | 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... | 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 ca... | 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 or... | 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 ... | 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 i... | 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 develo... | 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 Tr... | 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 atte... | 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 wi... | (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 a... | 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 ... | 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 Corporati... | 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 ... | 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 r... | 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 cou... | 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 co... | 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 M... | 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 Fue... | 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 movin... | 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?
Additional... | 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 in... | 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... | 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 an... | 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 Willia... | Williams Production RMT Company--Financial Invoices |
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