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Enron Mail |
Travis:
I have been in contact with the Calgary office on this transaction. Mark Powell is working on the deal and he will provide me with a copy of the documentation if and when this is finalized. I also spoke to Bill Bradford yesterday to update him on the legal status of this. Jeff Travis McCullough 02/28/2001 07:46 PM To: Mark E Haedicke/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT cc: Subject: PG&E Gas Sales - FYI FYI -- PG&E has asked to purchase March gas from Enron Canada on a prepaid basis. Bill Bradford approved the transaction, but wanted to give the legal department an opportunity to stop the deal if we saw any issues. Given that this is an arms-length transaction on market terms, there isn't much risk that we have participated in a fraudulent transfer. Nor is there really a "preference" issue (the transaction doesn't involve a payment for an antecedent debt) that would require us to disgorge the payments in the event of a subsequent filing. Finally, as we are paid cash up front we shouldn't have any credit or security issues. Assuming the traders are happy with the economics of the deal, I see no reason why we shouldn't be willing to deal with PG&E if we are paid cash up front. Travis McCullough Enron North America Corp. 1400 Smith Street EB 3817 Houston Texas 77002 Phone: (713) 853-1575 Fax: (713) 646-3490
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