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Enron Mail |
Cc: lmunden@enron.com, dhardy@enron.com, giw@vitol.com
Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: lmunden@enron.com, dhardy@enron.com, giw@vitol.com X-From: David Fransen <DBF@Vitol.com< X-To: "'Sara Shackleton'" <Sara.Shackleton@enron.com< X-cc: "Lee Munden (E-mail)" <lmunden@enron.com<, "David Hardy (E-mail)" <dhardy@enron.com<, Gilbert Widmer <GIW@Vitol.com< X-bcc: X-Folder: \Sara_Shackleton_Dec2000_June2001_1\Notes Folders\All documents X-Origin: SHACKLETON-S X-FileName: sshackle.nsf Sara Firstly, thanks for the message. I am indeed the right person for ISDA's in Vitol. I did meet with your credit people in London ( David Hardy and Lee Munden) and we did discuss the idea of replacing the existing agreement. I am at present in our office in Rotterdam, but will be back in Geneva tomorrow. I therefore do not have the existing agreement with me, but I seem to remember that it is just signed with Vitol SA Inc, which is the US branch office of the main trading company in the Vitol Group, Vitol SA, which is a Swiss company registered in Geneva. I would suggest that you send us a proposal for an ISDA agreement with Vitol SA, set up as a multibranch company about to trade out of its Geneva and Houston office, and with Vitol Holding BV (the ultimate parent company of the group) as the credit support provider. I would hope that once we have agreed terms for the basic schedule and credit support annex, we can then easily add other Vitol or Enron companies as appropriate. Regards, David David Fransen Vitol SA Geneva Tel : 00-41-22-322-1111 ********************************************************************** This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ********************************************************************** -----Original Message----- From: Sara Shackleton [mailto:Sara.Shackleton@enron.com] Sent: 31 May 2000 15:20 To: dbf@vitol.com Subject: Undeliverable: Master Agreement (financial) between Enron North A merica Corp. ( "ENA") and Vitol S.A. ("Vitol") ----- Forwarded by Sara Shackleton/HOU/ECT on 05/31/2000 08:19 AM ----- |--------+-----------------------< | | System | | | Administrator| | | <postmaster@V| | | itol.com< | | | | | | 05/30/2000 | | | 11:31 AM | | | | |--------+-----------------------< <--------------------------------------------------------------------------- -| | | | To: Sara.Shackleton@enron.com | | cc: | | Subject: Undeliverable: Master Agreement (financial) between | | Enron North A merica Corp. ( "ENA") and Vitol S.A. ("Vitol") | <--------------------------------------------------------------------------- -| Your message To: ddf@vitol.com Cc: Tanya Rohauer Subject: Master Agreement (financial) between Enron North America Corp. ( "ENA") and Vitol S.A. ("Vitol") Sent: Tue, 30 May 2000 17:27:07 +0100 did not reach the following recipient(s): ddf@vitol.com on Tue, 30 May 2000 17:31:42 +0100 The recipient name is not recognized The MTS-ID of the original message is: c=US;a= ;p=Vitol;l=LDN0040005301631L7L87HSX MSEXCH:IMS:Vitol:LONDON:LDN004 0 (000C05A6) Unknown Recipient Message-ID: <862568EF.005A5FCD.00@notes.ect.enron.com< From: Sara Shackleton <Sara.Shackleton@enron.com< To: ddf@vitol.com Cc: Tanya Rohauer <Tanya.Rohauer@enron.com< Subject: Master Agreement (financial) between Enron North America Corp. ( "ENA") and Vitol S.A. ("Vitol") Date: Tue, 30 May 2000 17:27:07 +0100 Return-Receipt-To: Sara Shackleton <Sara.Shackleton@enron.com< MIME-Version: 1.0 X-Mailer: Internet Mail Service (5.5.2650.21) X-MS-Embedded-Report: Content-Type: text/plain; charset="iso-8859-1" I am a derivatives lawyer with ENA in Houston and obtained your name through one of my traders who is transacting with Jay Carr in Houston (please see attached message below). When I spoke with Jay earlier this month, I asked him for the name of a lawyer but was advised that all Vitol lawyers were in New York and that he would pass my message along to a lawyer. I am assuming that you are the trading lawyer who can assist me with negotiating an ISDA Master Agreement between our respective companies. If not, please let me know and feel free to pass this message on to the appropriate attorney. On April 12, 1995, Enron Capital & Trade Resources Corp., predecessor in title to ENA, and Vitol S.A., Inc. entered into a Master Agreement which is one of ENA's early energy price swap agreements. Since our companies are currently trading weather derivatives, I think you would agree that it would be prudent to supersede the existing agreement with an ISDA Master Agreement. This relates to my conversation with Jay in that we confirmed our weather deals under the existing master but incorporated the 1991 and 1993 ISDA definitions into the confirms of our weather trades. Please let me hear from you. You can reach me via email, phone (713/853-5620) or fax (713/646-3490). ----- Forwarded by Sara Shackleton/HOU/ECT on 05/30/2000 11:14 AM ----- |--------+-----------------------< | | Sara | | | Shackleton | | | | | | 05/05/2000 | | | 11:47 AM | | | | |--------+-----------------------< <--------------------------------------------------------------------------- -| | | | To: jfc@vitol.com | | cc: | | Subject: Master Agreement (financial) between Enron North America| | Corp. ("Enron") and Vitol S.A. | <--------------------------------------------------------------------------- -| Jay: I am a lawyer with Enron. I called for you on Friday, you're out, and no one else could help. I would like to speak with a Vitol lawyer about (1) replacing our existing financial master with an ISDA (to accommodate a broader range of products) and (2) specifically incorporating the relevant ISDA definitions into the recent weather transaction confirmations even though the master is an early master energy price swap agreement. Please call me at 713 853-5620 with the information so that we can move quickly. Thank you for your help. Sara
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