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Enron Mail |
FYI.
---------------------- Forwarded by Alan Aronowitz/HOU/ECT on 09/28/99 08:59 AM --------------------------- Matthias Lee 09/28/99 03:22 AM To: Alan Aronowitz/HOU/ECT@ECT cc: Anita Fam/SIN/ECT@ECT, Angeline Poon/SIN/ECT@ECT Subject: MT Pacific Valour Alan I spoke with John Nolan. I gave John a summary of our legal position as advised by Watson Farley & Williams. I also asked that he consider the potentially high cost of commencing arbitration proceedings in London (including legal fees and flying witnesses from Singapore to London). John expressed a wish to commence proceedings against Hyundai. His analysis is that since Hyundai would exeprience the same high cost of arbitration and given the fact that they are Koreans (by that I presume he meant they are not inclined to be contentious), it may be worthwhile to pursue Hyundai in addition to the vessel owners. As for the legal advice of a weak case against Hyundai, he remains unconvinced. John informs that he had been advised some time ago by legal in Houston that he as seller was not able to withdraw supply until he had given every opportunity to the buyer to perform. I do not know the facts of that case and was not able to comment. John would like to speak with you on the matter when he returns to Houston. Meanwhile, I will be forwarding the legal opinions to John for his consideration. He is presently leaving Vienna for Munich and does not have e-mail or fax facilities. He will be contacting Russell from Munich to let me have his fax number there. Regards Matt
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