|
|
Enron Mail |
Jim/Don,
Do you know anything about this for Ecogas? Michelle Cash ----- Forwarded by Michelle Cash/HOU/ECT on 06/09/2000 09:13 AM ----- Randal Maffett 06/08/2000 06:44 PM To: Michelle Cash/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT, rstephens@bracepatt.com cc: Subject: RE: D&O Insurance FYI - see Jerrel's response to my query below. This is the first I've ever seen or heard that this was a "condition to closing." Dan/Rob - is this true? To me the cost is irrelevant since Jerrel is the only Director affected and because of his actions (and/or lack thereof) the company can't afford to cover him. ---------------------- Forwarded by Randal Maffett/HOU/ECT on 06/08/2000 06:38 PM --------------------------- Jerrel Branson <jerrel@ecogas.com< on 06/08/2000 05:16:24 PM To: "'Randal.Maffett@enron.com '" <Randal.Maffett@enron.com< cc: Subject: RE: D&O Insurance Answering backwards - D&O insurance is exceedingly expensive for small firms to secure, thus most do without it. Second, it was a condition when we closed and McConville/Lambert, et al researched it through Enron Risk Management, Don Marshall, and stated that it was in place automatically for any majority owned merchant investment. A confirmation letter was promised on 14 July and when pressed in September Lambert finally got around to issuing the letter to Carl and me that I mentioned earlier. Jerrel -----Original Message----- From: Randal.Maffett@enron.com To: jerrel@ecogas.com Sent: 6/8/00 4:42 PM Subject: Re: D&O Insurance I'm not very experienced in these matters so I'm checking with the folks here. Can you explain why Enron should cover non-Enron directors? Why doesn't Ecogas have its own insurance? Any help you can provide is appreciated.
|