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Enron Mail |
happy to talk to bill. do you want to go elizabeth??=20 -----Original Message----- From: =09St. Clair, Carol =20 Sent:=09Wednesday, December 19, 2001 4:34 PM To:=09Mellencamp, Lisa; Sager, Elizabeth Cc:=09Shackleton, Sara Subject:=09RE: Credit issues Lisa: I have already I think "burned my bridges" with both Tanya and Debbie altho= ugh I am not entirely sure about what I did to make them act the way they a= re. It may be better if you and/or Elizabeth meet with Bill and talk gener= ally about how he wants credit issues to be handled and maybe he can shed s= ome light on what is going on.=20 Carol St. Clair EB 4539 713-853-3989 (phone) 713-646-3393 (fax) 281-382-1943 (cell phone) 8774545506 (pager) 281-890-8862 (home fax) carol.st.clair@enron.com -----Original Message----- From: =09Mellencamp, Lisa =20 Sent:=09Wednesday, December 19, 2001 4:30 PM To:=09St. Clair, Carol; Sager, Elizabeth Cc:=09Shackleton, Sara Subject:=09RE: Credit issues i am thinking we should meet (i will bring the baseball bat in lyons's offi= ce). bradford, rohauer and brackett??? -----Original Message----- From: =09St. Clair, Carol =20 Sent:=09Wednesday, December 19, 2001 4:13 PM To:=09Mellencamp, Lisa; Sager, Elizabeth Cc:=09Shackleton, Sara Subject:=09Credit issues Lisa and Liz; I am very concerned about the way that credit is handling and coordinating = with us on margin issues. For over a week we have been waiting for them to= compile and send to us information on LC's that are due to expire at the e= nd of December. We finally received a very cryptic spreadsheet this aftern= oon which requires alot of follow up in order for us to determine what our = rights are. I get the sense that credit assumes that since we are in bankr= uptcy we will never have the right to draw on LC's that we are holding when= in fact we know that this is not necessarily true. For example, this afte= rnoon I found out that we are holding an $8 million LC for trades done with= Enserco under an ISDA. The drawing condition is a failure to pay. Under = the ISDA, they were required to renew this LC within 20 Business days of th= e expiry date which is 12/31. If they don't renew I'm hoping that we can d= eclare an Event of Default, terminate, request payment of a termination pay= ment and if they don't pay draw. I'm not sure that by following all of the= cure periods in the ISDA we can be in a position to draw on the 31st. Tha= t's just one example. Do you have any thoughts on this? Carol St. Clair EB 4539 713-853-3989 (phone) 713-646-3393 (fax) 281-382-1943 (cell phone) 8774545506 (pager) 281-890-8862 (home fax) carol.st.clair@enron.com
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