Per our discussion this morning, below is a summary of items to discuss with Glynn: Adding Enron's "negative CTC claim" to the list of claims: PGE's filing included a list of top twenty creditors. Our negative CTC claim was apparently not taken into account in compiling that list. The list is nonbinding, however. PG&E will be required to file schedules of creditors on April 20. Our negative CTC claim should be on Schedule F (for unsecured claims). You may want to remind Glynn of your previous conversations and state our expectation that the negative CTC claim will appear (preferably as uncontested) in the April 20 filing. (Note: if PG&E does not include the claim we have an opportunity to file a proof of claim and ultimately the court determines the validity of the claim). Including Enron on the Creditors' Committee: PG&E may have the opportunity to influence representation on the creditors' committees. There are several reasons to suggest to Glynn that we be included: 1) we are a big creditor, 2) we could be helpful in crafting a broader solution, and 3) we are one of the real parties in interest behind the PX and ISO (who were listed as significant creditors but are really just "passthroughs" for the suppliers ... and PG&E likely would not want to have those political bodies serving on the creditors committee anyway).
Answer: Call to Bob Glynn
Mark, The word on the street is that the NewPower folks are getting further in trouble (ie) strange trading activity, etc. Looks and smells a little like the old EES. Couple of opps: - get another shareholder on-side and demand an Enron led audit to confirm financial and operating health; - followed up by hostile exit of mgt team if significant issues arise. Issues: - obviously pushes us into another level of complicity/fiduciary in a blow up or bankruptcy not unlike the issues we faced with Kafus et al; however, given our continued interest a significant control issue could result in a significant acceleration of a write-off of our existing position plus any outstanding credit. I would recommend we force the management team to submit to a detailed audit as a part of a united shareholder iniative - Lets discuss. Rick Buy, what is our current credit position? Greg/John, do you have a view on this one? Rick Causey, we probably need a more "permanent solution" ot the NewPower issue. Regards
Answer: NewPower
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Answer: IntercontinentalExchange System
Per, What's the deal he's talking about? I also do not think we could put ENA and Enron Metals Ltd. trades under the same master. When you have a mingute give me a ring. Tana
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