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Enron Mail |
Gentlemen - please see below as well as the S&C memo attached. I will also
send you a related email later. Thanks. Justin ---------------------- Forwarded by Justin Boyd/LON/ECT on 09/08/2000 18:55 --------------------------- Jon Barrett@MGLTD 07/08/2000 17:46 To: Justin Boyd/LON/ECT@ECT, Janine Juggins/LON/ECT@ECT cc: Trena McFarland/LON/ECT@ECT, Kevin Rhodes/MGLTD_London/MGLTD@MGLTD, Sid Tipples/MGLTD_London/MGLTD@MGLTD, Alfred Pennisi/NYC/MGUSA@MGUSA, Andrew Cornfield/LON/ECT@ECT Subject: FX Transactions We received the attached from Sullivan & Cromwell re the FX business and the possibilities of using a US companyn which company to use for contract purposes. At a meeting here at MG today, the consensus/preference was not to use a UK company as we have no full ISD (chapter 10) firm nor the wish to change MG's status. Per the advice from S&C, we like the idea of using a US corporation with a UK "arranger" to cover any UK regulatory issues that arise. Dependent on where the business will end up (I understand to be discussed by Gary Hickerson/Mike Hutchinson 18th August), the following appears to be the among the logical solutions: 1. Contractual entity - either Enron North America, MG London Inc or Newco Inc. 2. Arranger - either EEFT Ltd, Metallgesellschaft Ltd or MG Brokers Ltd (depending on the effect on their chapter 3 status for the last two). The current customer base consists of entities in the US, Canada, France, UK and Switzerland. Please advise on any group/tax issues that can affect the final decision. If you need any further information, please let me know. Many thanks. ---------------------- Forwarded by Jon Barrett/MGLTD_London/MGLTD on 07/08/2000 15:59 --------------------------- GILBERGD@sullcrom.com on 06/08/2000 15:45:55 To: jbarrett cc: RAISLERK@sullcrom.com Subject: FX Transactions eSafe Protect Gateway (tm) has scanned this mail for viruses, vandals and suspicious attachments and has found it to be CLEAN. File: 62cy01!.DOC (38,400 bytes) Encoding: Base64 Result: Clean. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Attached is a draft of the memo we discussed on the proposed FX business. Please call or e-mail with any questions. Best regards. ---------------------------------- This e-mail is sent by a law firm and contains information that may be privileged and confidential. If you are not the intended recipient, please delete the e-mail and notify us immediately. - 62cy01!.DOC
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