postbot/aeslc_kw huggingface dataset:
Subject: Member Applications

The following 12 applications will go for approval at the next executive committee meeting on Thursday, November 1.
Please let me know if you know Kommunalbanken AS or KommunKredit.
Thank you.
Mary  Primary Regional 1.
Hamburger Sparkasse - German bank  Associate Broker 2.
Tradition (North America), Inc. - broker  Associate 3.
LIFFE - exchange 4.
Arendt & Medernach - Luxembourg law firm 5.
Wistrand Advokatbyra - Swedish law firm  Associate Emerging 6.
Deacons - Hong Kong law firm  Subscriber 7.
Kommunalbanken AS - local gov't (Norway) funding agency 8.
KommunKredit - provides loans to the Danish local authorities and Danish semi-municipal institutions 9.
CDC IXIS Asset Management - (its parent CDC IXIS Capital Markets is a Primary member) 10.
DKR Capital Inc. - Investment management firm.
(Formerly known as AIG International Asset  Management Inc.  DKR is no longer an affiliate of AIG.)
11.
Bank of England - Central bank 12.
Swiss National Bank - Central bank
Subject: Restructuring (Confidential Communications)

At the right time, it would be helpful to discuss what we may want to consider as "Core" Assets (unrelated to trading activities) for purposes of emerging from bankruptcy as a going concern.
As you know, we are in the process of organizing and formatting in an asset matrix the assets/businesses we currently own (or otherwise have an interest in) that may be potentially for sale; separating out potential core assets will be instructive as part of this process.
Please let me know your thoughts/suggestions over the next few weeks.
Thanks.
Subject: Netting Legislation

Just wanted to let you know that Congress is expected to adjourn this afternoon until the end of January.
Unfortunately, the netting provisions will not be considered as stand alone legislation or as a part of a bigger package.
Please call if you have any questions.
Many thanks!
-- Stacy
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Subject: greetings

2001 was a year full of surprises and challenges.
Thanks for your confidence, friendship, cooperation and support.
Merry Christmas and Happy New Year to all of you.
"Abra?os",  Sami Arap
Subject: EGM Contract Matrices

Julia:  The EGM group is delivering to you this afternoon completed matrices for all of our material physical trading contract forms and selected counterparty-specific contracts, in each case organized by commodity traded.
Just a few things to note: (i) we have not included in our review the EGM trading contract forms for Japan, Australia and Singapore due to the time constraints (please advise if you would like matrices done for those offices); (ii) we have not included a review of trading contract forms used by EGM-related entities in Europe as we assumed that Justin Boyd's team (I left a message for Justin this morning, but I did not get a confirmation back) would handle; and (iii) finally, we are not attaching the templates to the matrices, but we can certainly provide them if and when needed.
Please let me know if there is anything else you need.
Alan
Subject: ISDA PRESS REPORT - DECEMBER 26, 2001

ISDA PRESS REPORT - DECEMBER 26, 2001  CREDIT DERIVATIVES ISDA publishes credit survey - Risk  ENERGY Enron's Success Story - The Wall Street Journal   The International Swaps and Derivatives Association released its first survey of the global over-the-counter credit derivatives market last month, showing a total notional outstanding volume of credit derivative transactions of $631.5 billion as of the end of the first half of this year.
ISDA, which compiled information from 83 firms, hopes the survey will provide a benchmark from which to chart future growth in the credit derivatives market.
This survey, and the others that have been done by Risk, the British Bankers' Association (BBA), the US Office of the Comptroller of the Currency (0CC) and the Bank for International Settlements (BIS) have all used different methodologies on different samples, and have generated varying results.
Risk's survey last year showed significantly higher total notional volumes $810 billion.
The BBA survey released in July 2000 also gave a higher figure, forecasting $893 billion for the end of 2000.
The BJS plans to publish its triennial figures on the credit derivatives market later this year.
Upward trend According to ISDA, while still modest in relation to interest rate products, the credit derivatives market is expected to remain on a strong upward trend compared to more mature derivatives product areas.
Most major dealers say there has been a big increase in their credit derivatives volumes.
Mike Brosnan, deputy comptroller of risk evaluation at the 0CC, pointed to a challenge in assembling these surveys: "When you conduct a survey, some people may or may not respond, hence the data could be incomplete.
A problem with a survey is: who is the enforcer?'
The OCC.
which carries out its own quarterly review of the US derivatives market, showed a decline in the credit derivatives market, from $426 billion at the end of 2000 to $351 billion at the end of second-quarter 2001.
Brosnan attributes the decline in the credit derivatives market to uncertainty among users, relating to restructuring issues sparked off by the US life insurer Conseco's debt restructuring last year.
However, according to Tim Frost, head of JP Morgan's credit derivatives business in London, the decline evidenced in the OCC's figures really comes down to a change in reporting methods that occurred in 2000 from gross-to-net notional figures on outstanding credit derivatives contracts.
Enron's Success Story The Wall Street Journal - December 26, 2001  The collapse of Enron was many things -- a gratifying slap in the face to
Subject: Kyle Kitagawa

We are going to have to retain Kyle to work out Canada.
To date he has not received any retention money.
I believe - although I am not sure - that we have more flexibility since Kyle is an employee of Enron Canada (solvent).
Let me know your thoughts.
Kyle would like $500,000 US.
Subject: Intercompany contracts - US / Canada

I would like to set up a meeting to resolve the status of the Enron NA / Enron Canada contracts.
If Enron NA is not going to perform - nor is in a position to perform - shouldn't we formally cancel these contracts?
At your convenience, please call Lucy Marshall @ 713-853-4525 to indicate a convenient time.
Wednesday PM may work well for the group.
Regards,
Subject: Out of Office AutoReply: Enron/Moran/employee issues

I am out of the office on vacation from December 24- 28.
I will be back in the office on Monday, December 31st.
Therefore, if you require immediate attention, please contact my assistant, Twanda Sweet, at 713-853-9402.
Otherwise, I'll respond upon my return.
Subject: PGA TOUR CHAMPIONSHIP

The PGA Tour Championship will be held at the Champions Golf Club on October 29 - November 4, 2001.
This year, EES and EWS have joined together to provide a unique customer entertainment option at this event.
Instead of the normal hospitality tent at the course, we have obtained a house that overlooks the 18th fairway and 17th tee box.
Food, beverages and shuttle service will be provided daily.
Due to security issues, no personal cars will be allowed to park at the house.
Attached is the preliminary program agenda and shuttle service information.
EWS has access to 25 tickets daily.
To order tickets, please send an E-Mail Request to Laura Pena including the following information: Name, title and location of requestor Company name		 Department name Number of tickets (No charge will be allocated to individual cost centers)
Subject: Goldman CA

Attached is a revised version of the CA with Goldman.
The remaining issue is in Section 1 regarding restrictions on Goldman's "use" of the Confidential Information.
Goldman believes that they will have to bring a lot of their personnel, including traders, "over the wall" in order to perform this engagement, and that such personnel will by necessity see some of our Confidential Information.
While they agree that their personnel shouldn't be able to use our specific information against us in future transactions, they are worried that the restriction on their use of our info that is set out in Section 1 could limit the future activities of those folks simply because they "saw" some of our Confidential Information and are carrying it around in their heads, and at any time could be accused of "using" our info.
Initially, Goldman insisted on removing the restriction on use.
We have suggested the language at the end of Section , which would generally restrict use of the information to the engagement, but would allow Goldman's non-IB's to work on the deal but perform their other jobs without worrying about violating the CA as long as they weren't using the notes that they took while they were in our shop.
Admittedly, it is not as clean as I would like, but I think this adequately addresses both parties' concerns.
Goldman was initially receptive to this language, and will call tomorrow morning with any other comments.
Subject: Energy Capital Resources Funding Commitments

Based upon my review of the files and discussions with other lawyers and other business people:  Ameritex Ventures II, Ltd.-  No further funding commitment exists.
Nutech Energy Alliance, Ltd. - A DASH has been approved for funding $2,627,000 million.
$592,000 has been funded.
There is no known legal documentation of a commitment to fund any additional amount.
It is unclear what expectations other partners may have regarding future fundings by the Enron entity.
Texland Limited Partnership -  An AFE for $4 million has been approved but funding will not be required until next year.
Approximately $1 million/month for the first four months of 2002 will most likely be required.
Andex Credit Facility - Fundings are in the sole discretion of ECTMI as the agent.
Tri-C Resources - ENA is committed to fund $30,000-40,000 of general and administrative expenses this year.
Westwin Energy I Limited Partnership - Additional capital contributions require unanimous consent of the partners.
A Dash has been approved for $7,400,000 contingent upon certain levels of success and an engineer's report.
Hanson - No further funding obligations exists.
Subject: ADR Nov. 28th Bulletin Calendar Correction

Please note a correction regarding the Alternative Dispute Resolution November 28th meeting listed in the November Bar Bulletin Calendar.
The correct program and speaker information for the November 28th meeting is:   Arnold T. Shienvold, Ph.D., BCFE, Attorney, Mediator and Trainer, will present "Mediation With High Conflict Parties."
ADR Section
Subject: Sempra v. Enron

In September I sent you all a summary of the facts at issue in the above-referenced lawsuit.
Since that time, several developments have occurred.
First, the trial date was moved from October 11, 2001 to November 13, 2001.
We have no reason to believe that we will not go to trial on the 13th.
We expect the trial to last from 10 days to 2 weeks.
Judge Ira Gammerman will try the case.
There is no jury.
The second development deals with the proposed summary judgment motions mentioned in my last e-mail.
Summary judgments on liability and damages have been filed and the plaintiffs have responded.
We have filed replies to their opposition papers.
In addition, the plaintiffs filed a cross-motion for summary judgment as to liability.
We filed opposition papers to this motion.
New York practice differs somewhat from Texas practice to the extent that we have no firm date for a hearing on these motions.
Although we are attempting to get a hearing before the trial date, the judge has complete discretion as to whether to hear the parties' motions for summary judgment before the start of trial.
The third development relates to the plaintiffs' theory of the case.
It seems clear from the papers filed in response to our motions for summary judgment that the plaintiffs are fine-tuning their case to focus on the contracts' size distribution requirement arguing that the type of coal supplied by Enron, whether crushed or not, could never meet the contracts' size distribution requirement.
The plaintiffs make this argument in simple terms and, when argued as such, it has some appeal.
However, it is Enron's position that the contracts' language is ambiguous and the better (and much more complicated) approach advanced by the defendants is that the subject coal could and would have met the size distribution requirements.
Issues of whether the contracts are installment contracts also play heavily in this analysis.
Fourth, since the last e-mail on this matter, we have learned that the plaintiffs are seeking $71 million in damages from Enron.
This is approximately half of the amount of the contracts' damage cap.
Lastly, we finally received a response from the plaintiffs to the settlement proposal we made in June.
The plaintiffs have offered to resolve this matter for a cash payment by Enron of $45 million.
In the alternative, the plaintiffs have proposed a business alternative which is currently being investigated.
Additionally, there is some discussion of mediation in the limited time remaining before trial.
Should you have any questions about this case or should you need any further information, please call me.
Subject: Sempra Damages

Yesterday we received a supplement to the plaintiffs' discovery that contained a damage report from the plaintiffs' damage experts.
Plaintiffs are claiming $71 million.
This number takes into account the amounts allegedly lost from breach through March 2002, the date the plaintiffs claim they will have both machines up and running.
More specifically, this number is based on: 	1.
The alleged actual costs associated with moving, operating and using the machine that was moved back to Somerset.
($12 million for 2001/ $5 million for 1/02-3/02- Total $17million) 	2.
Lost tax credits "grossed-up" for the machine that remained at Pier IX but, according to plaintiffs, was unable to make any synfuel because the plaintiffs purportedly could not get the coal to operate it.
($54 million) 	By only using the period from breach through March 2002, the plaintiffs have avoided having to make any assumptions about the spread and also have avoided having to take into account any long-term cost-savings that Enron's alleged breach provided which, we argue, they would have to apply to offset their early damages.
We are analyzing the plaintiffs' numbers and will get back to you.
Subject: Netting Agreements & Collateral Agreements

Please let me know if you are working on any netting or collateral arrangements in support of our European trading businesses, so that we can maintain a consistent approach.
Similarly, please also be sure to contact Mary Cook who is the lawyer in Houston co-ordinating our netting and collateral arrangements with trading counterparties, many of whom trade in both Europe and the US.
Thanks
Subject: CONFIDENTIAL AND LEGALLY PRIVILEGED

CONFIDENTIAL AND LEGALLY PRIVILEGED  Vicki 	 Many thanks for your assistance yesterday.
Clinton Energy Management Services, Inc. because it holds a current power marketing certificate is an entity which we would like to move to being a direct subsidiary of Enron Corp. to take effect today.
This is considered to be an essential part of restructuring to meet our current and future needs.
While the day to day control will remain where it is and all the efforts assign contracts and other work should progress as planned, since the value to Enron Corp. is the power marketing certificate nothing should be done to jeopardize this.
In addition we will be changing the charter and will need copies of the existing charter to effect those changes required.
Please call me if you need to discuss this further.
Kind regards,
Subject: ENRON EUROPE

Mark, Rob  My apologies for adding to your burden at this difficult time.
However hopefully this might clarify our discussions of yesterday and enable us all to move on quickly.
Enron Europe and its directors are facing two related issues:   1.
Continuing to trade  The directors of EEL and its subsids have to be satisfied that there is a reasonable prospect of avoiding an insolvent liquidation.
This is a fairly low hurdle to pass and, in our situation, calls made on Corp. for cash have been promptly met and we have read the news today of a new confirmed facility so we already have a fair degree of comfort.
The directors meet with independent counsel tomorrow but I believe that they will probably come out of that session asking for nothing more than a confirmation, by email to say Michael Brown, but from the top - Jeff or Greg, of where they currently see things, ie a positive prognosis for the future.
That piece of electronic paper should be enough to enable the directors to reasonably conclude that we are not hurtling into Chapt 11 and to continue to trade.
It would also be very helpful if that email could confirm that Michael would be promptly informed if things took a downward turn.
I would be happy to draft a note but wonder whether the best way of quickly putting this to bed might be for a conversation to be had with Jeff/Greg to see what they would be prepared to say.
That could then be drafted up and sent over.
2.
Filing accounts  The directors of Enron Europe and its subsids cannot file accounts on a going concern basis unless they are comfortable they will have adequate funds in the medium term to run their businesses.
The hurdle here is higher than in point 1 above as prospective cash shortages would require the accounts to be qualified long before the directors would have to stop trading under point 1 above.
So more comfort will probably be required here, which could include further details of the new facility (drawdown conditions and maturity periods) and prospects for further facilities being signed.
This would back up the usual support letter.
I should add that we have not actually received this year the usual support letter from Corp. addressed to Enron Europe and its subsids.
I don't know if it has been formally requested but we will definitely need to see that document this time around.
Could you please point me in the right direction for that?
We now have until the end of January to file the accounts so point 1 above is definitely the immediately crucial issue.
We would however like to resolve the accounts issue as soon as possible.
Perhaps we could liaise with Joel to get a letter drafted and then signed by Jeff or Greg?
That's it.
It really boils down to requiring a bit more information from Corp.
There is absolutely no desire to cause problems here, just a desire to put in place the right pieces of information (which we are sure are out there but we need to collect them in) which will safeguard the European directors personally and enable them to move on from these concerns to the more pressing business of Q4.
Many thanks.
Mark
Subject: Project Notre Dame Checklist.DOC

Attached is a revised checklist, which incorporates comments from Lance.
<<Project Notre Dame Checklist.DOC>>                                           ++++++CONFIDENTIALITY NOTICE+++++ The information in this email may be confidential and/or privileged.
This email is intended to be reviewed by only the individual or organization named above.
If you are not the intended recipient or an authorized representative of the intended recipient, you are hereby notified that any review, dissemination or copying of this email and its attachments, if any, or the information contained herein is prohibited.
If you have received this email in error, please immediately notify the sender by return email and delete this email from your system.
Thank You
Subject: Natural Gas Roundtable Luncheon, Tuesday, November 13

Dear Invitees: Mitch Daniels, Director of OMB, will be our guest speaker for the Tuesday, November 13, luncheon.
Mr. Daniels will discuss the Administration's overall budget priorities, as well as tax and funding issues related to energy.
Details are attached.
For reservations, please email or call me at 202-824-7121 by noon, Friday, November 9.
You do not need to be a member of the Roundtable to attend.
See you there!
Subject: Euro Protocol

I wanted to encourage your institutions to consider adhering to the 2001 Euro Protocol.
The adherence period ends on November 30.
Details can be found on our website, www.isda.org, under the Protocols page.
Please feel free to contact me with any questions you might have.
A Commentary has also been prepared to assist in answering frequently asked questions.
Thank you for your consideration.
Subject: Follow up from MSU

Hi Mark,    Although I suspect that you have been quite busy lately given the situation at Enron, I would like to follow up on our conversation of a few weeks back.
Is there a time that is convenient for me to call?
Otherwise, I will give you a call later this week and try to set something up.
As always, I appreciate your willingness to give some time to me.
And if your schedule is too hectic now, please suggest some future dates that might work better for you.
I hope you saw the Spartans beat Michigan Saturday.
What a great game!
And to top it off, Tom Izzo signed another blue chip basketball recruit from Flint.
There are many smiling faces here on campus.
I assume you received my information packet and look forward to talking to you.
Thanks again for your time.
Best regards,
Subject: S&P Marketscope

Attached is your S&P Market scope for Wednesday, November 7.
Please feel free to contcat us if there is anything we can help you with.
Thank You,
Subject: In re Doyle Claim Against Underwriters

Doyle I, L.L.C., ENA, NEPCO, EE&CC and Power Generation Investco, L.L.P., as insureds/assignees under a policy of insurance issued by Factory Mutual Insurance Co. ("FM"), may file suit on Friday, November 9, 2001, against FM for a breach of contract and bad faith with regard to payment of a claim of approximately $6,200,000 for an insured loss that occurred on or about June 14, 2000, when the Unit #1 engine at the Doyle I, L.L.C.
facility located at Monroe, Georgia, failed.
If you are aware of any reason that suit should not be filed , please call Britt Davis at (713) 853-6307 or email him at britt.davis@enron.com <mailto:britt.davis@enron.com>.
If he does not hear from you by Thursday, November 8 at 5:00 p.m., he will assume you have no objection to the filing of this suit.
Sent on behalf of Britt Davis
Subject: ENE Form 10-Q Accounting Matter --  Initial Report

I understand that AA may not provide the review of interim financial information that the SEC requires to be obtained in respect of Form 10-Q filings ( Article 10 of Regulation SX).
Jordan asked me to give an update in an hour about the impact of this on covenants in ENE credit and other instruments requiring delivery of ENE's 10Qs.
(1)	I have not yet been able to ascertain whether (i) the AA review or any statement in respect thereof is required to be filed with the SEC, or (ii) if not so required, ENE would file the 10-Q without having obtained the review.
(2)	ENE's 364-day corporate revolver (and most other ENE instruments containing the subject covenant) requires ENE to make available either on "EDGAR" or ENE's home page on World Wide Web, or otherwise make available to the Banks promptly after the filing or sending thereof, and in any event within 75 days after the end of each of the first three fiscal quarters, a copy of ENE's report on Form 10-Q.
If ENE does not file the 10-Q, it arguably could nevertheless send it to the banks as confidential information (to comply with Regulation FD) within the required time period and satisfy the covenant.
The revolver contains a confidentiality provision.
Failure to deliver the 10-Q constitutes an Event of Default under the revolver if the failure continues for more than 30 days after ENE has received notice thereof by the Paying Agent.
I will continue to pursue information from the accountants.
Regards, NJD