|
|
Enron Mail |
Martin,
I am very happy to hear, as the below-referenced e-mail indicates, that the Court is ready to vacate the escrow account. Obviously, we need to keep it in place until the Court has signed an Order to that effect. After I speak with our outside counsel tomorrow morning at 8:00 a.m. Houston time, I will update you on further strategy. Britt ----- Forwarded by Britt Davis/Corp/Enron on 10/16/2000 10:38 AM ----- "Haiber, Scott R." <SHAIBER@MilesStockbridge.com< 10/16/2000 10:20 AM To: "'martin.stanley@mgmcc.co.uk'" <martin.stanley@mgmcc.co.uk<, "'bdavis@enron.com'" <bdavis@enron.com< cc: "Mullin, Timothy L." <TMULLIN@MilesStockbridge.com<, "'mdgately@hhlaw.com'" <mdgately@hhlaw.com< Subject: RE: Base Metal vs NKAZ Britt: As I mentioned, we received some good news on our call with Judge Garbis this morning. The Judge indicated that he is going to enter an order eliminiating the requirement that sale proceeds be kept in an escrow account. Essentially, the Judge agreed that MG Metal's solvency makes an escrow account unnecessary. I would expect that sometime next week (or possibly the end of this week) the Judge will sign the order allowing us to release the funds. Although Base Metal will no longer be able to tie up MG Metal's funds, the Judge is giving Base Metal until the end of the week to decide whether or not they are going to sue MG Metal in Baltimore on the fraudulent conveyance claim. The Judge also wants us to send a letter confirming that, if Base Metal sues us this week, MG Metal will be subject to the Court's jurisdiction for an amount up to the value of the seized aluminum. Mark, Tim and I will call you tommorrow morning at 9:00 (EDT) to discuss our strategy going forward. Please let me know if you want anyone else added to the call. Regards, Scott ************************************************* This e-mail, including any attachments, is intended for the receipt and use by the intended addressee(s), and may contain confidential and privileged information. If you are not an intended recipient of this e-mail, you are hereby notified that any unauthorized use or distribution of this e-mail is strictly prohibited.
|