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Enron Mail |
David,
I want to discuss Paul Henking's proposed strategy and Neale Gregson's comments with you today, if possible. I'll give you a call later. Thanks. Britt ----- Forwarded by Britt Davis/Corp/Enron on 11/08/2000 06:08 AM ----- Michael A Robison@ECT 11/08/2000 02:14 AM To: Britt Davis/Corp/Enron@ENRON cc: paul.henking@enron.com, Matthias Lee/SIN/ECT@ECT Subject: pacific virgo contamination Hi Britt: Greetings from Singapore. I'm slowly getting over my jet-lag. It's great to be here and I'm looking forward to the rest of my stay. On the Pacific Virgo front I wanted to forward to you Paul Henking's views to get your comments. Also, I talked to Neale Gregson today and he is very opposed to the selection of Mark Hamsher as the arbitrator since in his experience Mark has been a maverick and is not a lawyer. Neale believes we need a Queen's Counsel as an arbitrator. Neale will be discussing this issue with David Best tonight. Thanks again for that great lunch! Best regards, Mike EB3859 (713) 853-6667 DID (713) 646-4842 FAX ----- Forwarded by Michael A Robison/HOU/ECT on 11/08/00 03:39 AM ----- Paul Henking 11/08/00 03:19 AM To: Matthias Lee/SIN/ECT@ECT, Michael A Robison/HOU/ECT@ECT cc: Subject: pacific virgo contamination matt/mike, tried to call matsuru/mitsubishi this afternoon but he was in a meeting. i will try later and let you know if i get hold of him. in the meantime, i do have some concerns with mitsubishi taking us to arbitration for the outstanding frt and demurrage we owe on the pacific virgo. if this goes to arbitration, i am sure we will lose and have to pay the amounts due. i understand a decision has to be made before the end of this week. of course, going to arbitration would give us the opportunity to present our claim for the contamination as a counter claim. however, i feel sure the arbitrators will say pay the freight/demurrage now and make the claim a separate issue. from below, our insurance company has been advised of the contamination claim and i feel this is a valid claim. obviously, we loaded one spec which was in order and the vessel arrived with a different spec. however, rather than going to arbitration and incurring additional expenses, i feel we should be letting the insurance company handle this with the owner's insurance company granted, with the insurance companies, this could, and probably would, take some time (1-2 years) and we may still not get money out of it if the owners can prove their position. however, going to arbitration may not be any more successful and would be final. in summary, i would suggest paying the outstanding freight with advices to mitsubishi that we will turn our attention to the demurrage claim and revert by the end of the month. there is a big difference in going to arb for $760,000 vs. only $259,000. this advice would be without prejudice to our contamination claim which will now increase by the amount of the freight and the amount of the demurrage. at the same time, we should advise the insurance company that we have been unsuccessful in negotiating any settlement by offset of freight and demurrage and request they proceed with the contamination claim against the owners. we can send them the letter legal/i sent to mitsubishi outlining our claim mentioning that this amount will now increase due to the freight and demurrage costs. you may want to discuss this with britt davies but i see no way we will win on the freight payment issue if this goes to arbitration. rgds ---------------------- Forwarded by Paul Henking/SIN/ECT on 08/11/2000 11:01 --------------------------- Michael J Gasper 07/11/2000 22:34 To: Paul Henking/SIN/ECT@ECT cc: Eric Tan/SIN/ECT@ECT, James P Studdert/HOU/ECT@ECT, Michael A Robison/HOU/ECT@ECT, Matthias Lee/SIN/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT, john.h.harrison@enron.com Subject: pacific virgo contamination I have not been directly involved in this claim. Talked to Jim Studdert this morning - underwriters have been notified of the claim, however claim is on hold pending settlement with vessel owners. Suggest Singapore coordinate directly with Jim Studdert. Enron North America Corp. From: Paul Henking 11/06/2000 10:04 PM To: Michael J Gasper/HOU/ECT@ECT cc: Subject: pacific virgo contamination mike, in talking to eric, he says you have reported this claim to insurance. was just wondering where we stood on this matter as there are things going on over here. as an update, mitsubishi is taking us to arbitration for the outstanding frt and demurrage which understand totals about $7-800,000. legal here has submitted a letter under my name claiming our damages are about $1.5-2.0 mil. we were trying to settle this claim but getting nowhere on this matter. rgds
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