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Enron Mail |
Cc: dbishop@kslaw.com, peter.weidler@enron.com, mark.haedicke@enron.com,
john.novak@enron.com, robert.williams@enron.com, richard.sanders@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: dbishop@kslaw.com, peter.weidler@enron.com, mark.haedicke@enron.com, john.novak@enron.com, robert.williams@enron.com, richard.sanders@enron.com X-From: Michelle Blaine X-To: Cliff Shedd X-cc: dbishop@kslaw.com@SMTP@enronXgate, Peter E Weidler, Mark E Haedicke, John Novak, Robert C Williams, Richard B Sanders X-bcc: X-Folder: \Richard_Sanders_Oct2001\Notes Folders\International X-Origin: Sanders-R X-FileName: rsanders.nsf Hi Cliff, Attached is a memo from Doak Bishop analyzing Enron's claims under our political risk insurance for expropriation of TGS resulting from the stamp tax. We are asserting in our suit against Argentina, that the tax assessment is an expropriation prior to payment because it affects our equity in the company. In other words, any attempt to dispose of the asset would require disclosure of this massive assessment which significantly impairs the value. Doak and I met with our expert in international law, Professor Michael Reisman of Yale who believes and will testify that this is a valid claim. Therefore under the policy, we arguably have an immediate claim for expropriation against OPIC, even though we haven't paid any money. To avoid waiving any claims, we will prepare a letter to OPIC requesting a tolling agreement, so we do not have to file a claim or arbitration against it within the period required under the policy, pending resolution of the matter. Given the nature of our call with them this morning, I'm sure they will cooperate. I will arrange a call with Guido Tawil, our local counsel in Argentina to review the PPI issue, and we will analyze the commercial policy to see if we can find any coverage there. Kind regards, Michelle Confidentiality Notice This message is being sent by or on behalf of a lawyer. It is intended exclusively for the individual or entity to which it is addressed. This communication may contain information that is proprietary, privileged or confidential or otherwise legally exempt from disclosure. If you are not the named addressee, you are not authorized to read, print, retain, copy or disseminate this message or any part of it. If you have received this message in error, please notify the sender immediately by e-mail and delete all copies of the message. - 2Z#801!.DOC
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