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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Richard B Sanders X-To: Barbara N Gray X-cc: X-bcc: X-Folder: \Richard_Sanders_Oct2001\Notes Folders\Sent X-Origin: Sanders-R X-FileName: rsanders.nsf I told Sandy that this looked fine to me but I am not a trasactional lawyer. I just want to make sure you know the obvious: Intratex has the Beeson case attached to it so we nedd to maintain our ability to bankrupt or otherwise separate this company from Mother Enron. ----- Forwarded by Richard B Sanders/HOU/ECT on 03/01/2001 02:44 PM ----- Sandi M Braband 02/27/2001 12:11 PM To: Richard B Sanders/HOU/ECT@ECT cc: Barbara N Gray/HOU/ECT@ECT Subject: Transfer of stock ownership in Intratex Gas Company and Panhandle Gas Company Richard, In connection with the sale of Houston Pipe Line Company, we are transferring ownership in the above-referenced companies from HPL to an entity now named LOA, Inc. which, until closing of the HPL sale, is a wholly owned sub of HPL. At, or just prior to closing, that ownership will be transferred to Enron Corp. since these companies are excluded assets. There is a note in the Corp. Secretary's records that indicates no mergers or consolidations of assets of these entities should take palce without Bob Williams approval. I am assuming that now means you and I do not believe the transfer of the stock qualifies as either a merger or a consolidation. However, since I believe the issue centers around pending or threatened litigation I thought I would pass this along in the event you needed to know or had an issue with it. Please let me know ASAP if you do--I am making the conveyance effective February 28th Thanks, Sandi
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