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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: James D Steffes X-To: "Ronald Carroll" <rcarroll@bracepatt.com<, Jeff Dasovich X-cc: X-bcc: X-Folder: \Jeff_Dasovich_June2001\Notes Folders\Notes inbox X-Origin: DASOVICH-J X-FileName: jdasovic.nsf Ron - If you have any conclusions on this, please get to Jeff Dasovich. He is calling Mike Peevey to try and get CDWR to take over the contracts fully (including our LCs). Jim "Ronald Carroll" <rcarroll@bracepatt.com< 02/07/2001 03:54 PM To: <andrea.settanni@enron.com<, <jsteffe@enron.com<, <Mary.Hain@enron.com<, <smara@enron.com<, <steve.c.hall@enron.com< cc: Subject: Re: Challenge to exercise of Eminent Domain - Confidential Attorney WorkProduct Mary, I like your points about the state being without jurisdiction over the BFM contracts (without commenting on whether such arguments would be better made at FERC or Dist. Ct. or both venues). We would need to research those arguments to see if they hold up. Ron <<< <Mary.Hain@enron.com< 02/05/01 11:18AM <<< Good point. ---------------------- Forwarded by Mary Hain/HOU/ECT on 02/05/2001 08:29 AM --------------------------- Steve C Hall 02/05/2001 08:16 AM To: Mary Hain/HOU/ECT@ECT cc: Subject: Re: Challenge to exercise of Eminent Domain - Confidential Attorney Work Product (Document link: Mary Hain) I think it may also be significant that the governor exercised his authority over contracts, as opposed to real property. Who ever heard of the state "condemning a contract?" (Embedded image moved to file: From: Mary Hain pic15881.pcx) 02/03/2001 03:50 AM To: Phillip K Allen/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Shelia Benke/Corp/Enron@Enron, Donald M- ECT Origination Black/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT, Andre Cangucu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan Comnes/PDX/ECT@ECT, Wanda Curry/HOU/EES@EES, Jeff Dasovich/NA/Enron@Enron, Karen Denne/Corp/Enron@ENRON, Mike Grigsby/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT, Steve C Hall/PDX/ECT@ECT, Joe Hartsoe/Corp/Enron@Enron, Keith Holst/HOU/ECT@ect, Robert Johnston/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Steven J Kean/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Susan J Mara/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, Travis McCullough/HOU/ECT@ECT, Mark Metts/NA/Enron@Enron, Sarah Novosel/Corp/Enron@Enron, Mark Palmer/Corp/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Richard B Sanders/HOU/ECT@ECT, Gordon Savage/HOU/EES@EES, Richard Shapiro/NA/Enron@Enron, Vicki Sharp/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Shari Stack/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Marty Sunde/HOU/EES@EES, Stephen Swain/PDX/ECT@ECT, Mitchell Taylor/Corp/Enron@ENRON, Michael Tribolet/Corp/Enron@Enron, Robert Williams/ENRON@enronxgate, Greg Wolfe/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Christian Yoder/HOU/ECT@ECT, dwatkiss@bracepatt.com, carrrn@bracepatt.com, andrea settanni cc: Debra Davidson/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Mercy Gil/NA/Enron@Enron, Karen K Heathman/HOU/ECT@ECT, Lysa Akin/PDX/ECT@ECT, Leticia Botello/HOU/EES@EES, Joseph Alamo/NA/Enron@Enron, Janette Elbertson/HOU/ECT@ECT, Bernadette Hawkins/Corp/Enron@ENRON, Sharon Purswell/HOU/ECT@ECT, Maureen McVicker/NA/Enron@Enron, Rubena Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dolores Fisher/NA/Enron@Enron, Cindy Derecskey/Corp/Enron@Enron, Lora Sullivan/Corp/Enron@ENRON, Twanda Sweet/HOU/ECT@ECT, Ginger Dernehl/NA/Enron@Enron, Leasa Lopez/HOU/EES@EES, Iris Waser/HOU/EES@EES, Jan M King/HOU/ECT@ECT, Marcia A Linton/NA/Enron@Enron, Carol Moffett/HOU/EES@EES, Esmeralda Hinojosa/HOU/EES@EES, Kathryn Sheppard/PDX/ECT@ECT, Rosario Boling/Corp/Enron@ENRON, Emy Geraldo/NA/Enron@ENRON, Stephanie Truss/NA/Enron@ENRON, Anna Mehrer/PDX/ECT@ECT Subject: Challenge to exercise of Eminent Domain - Confidential Attorney Work Product Although I don't yet have all the facts, Steve Hall said that late yesterday (Friday) afternoon, the Governor exercised eminent domain over the IOU forward contracts that the PX had been in the process of auctioning to pay PX participants. I would like Bracewell to research at least the following two possible ways this action is unlawful. First, this violates the banking provisions of the PX tariff (Section 6). These provisions requires the PX to hold all PX accounts in trust for PX participants. Second, these are wholesale contracts and the State only has the right to exercise eminent domain concerning retail service. I don't have any law to support the second idea but think it should be researched nonetheless.
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