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Enron Mail |
Farallon/Oaktree's counsel, Bruce MacLeod, began his questioning of Izower on
Friday 9/1.? MacLeod began by establishing that (1) in drafting the offering White & Case attorneys relied upon information given to them by the underwriters and (2) if the underwriters would have indicated to White & Case that information in the offering memo was incorrect, White & Case would have changed the offering memorandum.? MacLeod also established that Izower had discussed the related party transactions with all of the initial purchasers at one point or another.? MacLeod then attempted to revist the issue concerning Chanmi's integrity and whether Chanmi's acceptance of kickbacks was discussed with the underwriter group.? Izower's counsel refused to allow MacLeod to revisit this testimony and McLeod ended his inquiry. SDI's counsel, Mike Strub, was the only defense counsel to ask questions. (I determined that the it made no sense to draw any attention to Enron/ECT given that the testimony concerning Enron/ECT had been limited to general statements concerning the "underwriters').? Strub attempted to establish that SDI was not listed on White & Case's responsibility outline as one of the drafters of the offering memo.? Izower agreed that SDI did not initially draft the offering documents, but indicated that SDI commented on drafts.? Izower also testified that he asked SDI's counsel Bob Walters to review the related party transactions section of the memo and to comment on its accuracy.? On rebuttal, MacLeod focused on SDI and established that SDI reviewed and revised portions of the offering memo. and that Busse attended the road shows and never advised Izower that the information contained in the memo. concerning SDI's role was inaccurate. This e-mail message may contain legally privileged and/or confidential information. If you are not the intended recipient(s), or the employee or agent responsible for delivery of this message to the intended recipient(s), you are hereby notified that any dissemination, distribution or copying of this e-mail message is strictly prohibited. If you have received this message in error, please immediately notify the sender and delete this e-mail message from your computer.
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