From: jberry@isda-eur.org
To: crichards@isda.org, rpickel@isda.org, apapesch@isda.org, beat.gabathuler@zkb.ch, charles.ross-stewart@wdr.com, lewis_david@jpmorgan.com, bentond@allenovery.com, david.wysoki@barcap.com, ernst.decker@bhf-bank.com, fcaputo@bci.it, gabriel.benincasa@msdw.com, goldenj@allenovery.com, joseph.carrico@ib.bankgesellschaft.de, jberry@isda-eur.org, ksumme@isda.org, mark.taylor@enron.com, harvey@sbcm.com, tredgetr@allenovery.com, venokurss@lehman.com, pwoodwar@lehman.com
Cc: mhoque@isda.org, ljohnson@isda.org
Date: 2001-03-16 17:14:00+00:00
Subject: RE: Master Agreement Structural Issues Working Group Meeting Noti
	ce

As promised, please find attached the materials for Wednesday afternoon's
meeting.

The materials consist of:

1. Revised draft Cross-Agreement Bridge;
2. Accompanying memorandum;
3. Draft ISDA/GMRA Bridge taking the "transaction" approach (previously
distributed);
4. Draft ISDA/GMRA Bridge taking the "insolvency" approach (previously
distributed);
5. Draft ISDA/OSLA Bridge taking the "transaction" approach (previously
distributed);
6. Draft ISDA/OSLA Bridge taking the "insolvency" approach (previously
distributed);
7. Allen & Overy memorandum to the Working Group (dated 24th November,
1999);
8. Allen & Overy memorandum to the Strategic Documentation Review Task
Force (dated 6th December, 1999)

During the meeting, we would like to focus attention on the revised
Cross-Agreement Bridge.  In previous meetings, the Working Group reached a
broad consensus that we should pursue the "insolvency" approach, and, in
particular, the approach taken in the draft Cross-Agreement Bridge.  This
approach is the approach that has been considered by our legal counsel in
the course of providing advice in relation to the various amendments and
provisions proposed as a result of our Strategic Documentation Review (you
should have received most of the SDR opinions by e-mail from Barbara Hanlon
on 16th February).  The advice we received on this type of bridge is, for
the most part, very positive.

However, we are also circulating copies of the other draft bridges that the
group has already considered, including those that try to take a
"transaction" approach.  Although our focus at present is very much on
trying to finalise a Cross-Agreement Bridge, we would welcome any further
discussion on possible future efforts.

Kind regards,
John.

 <<Cross-Agreement bridge.doc>>  <<Bridge memo.dot>>  <<GMRA transaction
bridge.doc>>  <<GMRA insolvency bridge.doc>>  <<OSLA transaction
bridge.doc>>  <<OSLA insolvency bridge.doc>>  <<Working Group bridge
memo.doc>>  <<Task Force bridge memo.doc>>


John Berry
International Swaps and Derivatives Association, Inc.
One New Change, London, EC4M 9QQ
Tel: +44 20 7330 3550
Fax: +44 20 7330 3555
e-mail: jberry@isda-eur.org
http://www.isda.org


  -----Original Message-----
  From: Barbara Hanlon [mailto:BHANLON@isda.org]
  Sent: 14 March, 2001 21:18
  To: Angela Papesch; Beat Gabathuler; Charles
Ross-Stewart; David A. Lewis; David Benton; David Wysoki; Ernst Decker;
Francesco Caputo Nassetti; Gabriel Benincasa; Jeff Golden; Joe Carrico; John
Berry; Kimberly Summe; Mark Taylor; Peter Harvey; Richard Tredgett; Robert
Pickel; Sherri Venokur; Sherri Venokurs Assistant
  Cc: Mehboob Hoque; Lakeisha Johnson; Cynthia Richards
  Subject: Master Agreement Structural Issues Working
Group Meeting Notice

  Allen & Overy has been working on revisions to the
Cross-Agreement Bridge.
  A revised draft will be available before the end of the
week.  We would like
  to schedule a meeting for Wednesday, March 21st at 9:00a.m.
New York
  time/2:00p.m. London time to be held in ISDA's New York and
London offices.
  We encourage people to attend in person, but will provide
call-in
  information to those who cannot attend in person.  Please
RSVP to Cynthia
  Richards at crichards@isda.org.

  Robert Pickel
  Executive Director and CEO
  International Swaps and Derivatives Association, Inc.
  600 Fifth Avenue, 27th Floor
  Rockefeller Center
  New York, New York 10020-2302
  Phone: (212) 332-1200
  Fax: (212) 332-1212


  Ms. Barbara Hanlon
  Database Administrator
  International Swaps and Derivatives Association, Inc.
  600 Fifth Avenue, 27th Floor
  Rockefeller Center
  New York, New York 10020-2302
  Phone: (212) 332-1200
  Fax: (212) 332-1212

 - Cross-Agreement bridge.doc
 - Bridge memo.dot
 - GMRA transaction bridge.doc
 - GMRA insolvency bridge.doc
 - OSLA transaction bridge.doc
 - OSLA insolvency bridge.doc
 - Working Group bridge memo.doc
 - Task Force bridge memo.doc