Good Morning All! Just a reminder that Cheryl will be in class all day today and most of tomorrow. She will be checking voicemail. Please feel free to contact me should you need immediate assistance. Have a great morning!
Answer: Reminder - Cheryl Nelson
Bill, I think you are about to become my new best friend! We have another long standing counterparty we cannot get approved on EnronOnline because we cannot get the counterparty set up in GCP. The Counterparty sent in a Password Application styled: Koch Industries, Inc., acting through its Koch Hydrocarbon Company Division. (Which also happens to be the same styling on the Master Swap Agreement we have in place with this Counterparty.) They way I understand it, GCP has the two following Counterparties already set up: (1) Koch Industries, Inc., and (2) Koch Hydrocarbon Company Division. The EnronOnline Team has been trained to never set up a company as a division, to always send the Password Application back to the Counterparty and try to get the Counerparty to resubmit the application with the legal incorporated name as part of the counterparty name, which they sucessfully did in this instance, but now we cannot get the counterparty set up in GCP. Can you help us?!! !
Answer: Another Division Problem
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 counterparty has performed, then no further action is required. If the counterparty has not performed then Debbie will work with us to see if a draw can be made. 2. If the LC covers all trades, Debbie will send copies of the LC and the transactions docs to me and we will determine what rights, if any, we have to draw. Each month, we will focus on those LC's that are due to expire that month. Call me if you have any questions. We will distribute the work to the trading lawyers as the need arises.
Answer: Collateral and LC Issues
Guys, your teams did a great job managing a very difficult situation with very few material effects to the organization. It is noticed and appreciated please pass on to your organization if you feel appropriate. Regards
Answer:
Power Failure