Caroline: You should have already seen the two ISDA's (Valentis, CD Holdings) emailed yesterday evening per your instructions. I am still waiting for you to send information regarding inhouse/outside legal counsel for both parties. The Schedule and Paragraph 13 sent to Valentis et al is very much like the hedge fund template which legal is refining. We are reviewing the first draft and commenting. FYI - I will not be in the office on Friday, April 27. Also, the Enron legal conference is next week and the lawyers will be in San Antonio from May 2 (afternoon) through May 4. And finally, I will be on vacation during the week of May 7 - May 11. Please try to make plans (conference calls, counterparty comments, etc.) accordingly. Let me know if you have any questions. Thanks.
Answer: hedge funds
Lee Johnson would like to come in tomorrow or Friday to sign the Facility Agreement. Are we ready to go? He really wants to get this done before the holidays. Thanks,
Answer: ESA facility agreement
Ted: ENA, formerly Enron Gas Marketing, Inc., opened a futures account with Cargill in 1993. I am advised that there has not been any activity with Cargill for many months. It appears that we had subaccounts for trading crude, nat gas, unleaded gas. We do not have any margin residing with Cargill. Given our recent discussions regarding inactive equity accounts, I was wondering if you had given any thought to inactive futures accounts. As of 5/23/00, I see only 13 active futures accounts. The following accounts appear to be dormant: (1) Bank One - I am currently negotiating to open up a margin line (2) Cargill (3) Daiwa Securities America (4) Gerald Inc. (may have merged or business moved to another firm) (5) Merrill Lynch Futures (6) Paine Webber (7) OM Stockholm (paper) (8) Spear, Leeds & Kellogg Please let me know what action you would like to take, if any, or discuss in general. Thanks. Sara
Answer: Cargill Investor Services, Inc. ("Cargill") and inactive futures accounts
Hi Jeannie: My apologies. I've been switched over to Windows 2000 and, well, things have been somewhat bumpy. I have a few comments on the Frevert piece but can't find the document you sent. Could you resend it? Best,
Answer:
Frevert Piece