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ECT and Sonoco entered into a one- year "plastics" swap which terminated on March 31, 1999. Doug Friedman (plastics trader) has asked that ECT formally demand $60,000 from Sonoco for underpayment on the swap. Sonoco has claimed the existence of a Market Disruption resulting from price reformation in the plastics publication "Monthly Petrochemical & Pleastics Analysis" which caused it to use a differenct Floating Price calculation. ECT disagrees as to the existence of such an event. Doug will contact me this week to review our approach. Please give me a call. Thanks. Sara

Subject Line:
Demand from ECT to Sonoco Products Company ("Sonoco")