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Enron Mail |
Thanks John for the comments. That leaves it up to legal to answer Susan's
question. Carol, any thoughts? Jane McBride Senior Legal Counsel Enron Japan Corp. Tel.: 81-3-5219-4500 (Main) 81-3-5219-4553 (Direct) Fax: 81-3-5219-4510 Assistant (Maggy Yamanishi) Tel.: 81-3-5219-4554 Email: Yo.Yamanishi@enron.com John Suttle@ENRON_DEVELOPMENT Sent by: John Suttle@ENRON_DEVELOPMENT 2001/02/26 09:16 To: Jane McBride/AP/Enron@ENRON cc: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Alan Aronowitz@ECT, Carol St Clair@ENRON, Mark Taylor@ECT Subject: Re: Enron: ISDA Schedules Jane - Not to back-pass the issue, I think this is generally a Legal question. From the Credit perspective, our concern is Enron's ability to: - Call for collateral - Receive it and hold it - Have title to it/perfect it in case of default - Retain it in the case of bankruptcy to offset exposures If we agree to accept it in yen or dollars, in Japan or the U.S., from my perspective, it is important that we simply identify the necessary legal, tax and operational procedures, then implement the processes that allow Enron to accomplish the above criteria. If I need to address these issues in greater detail, or if you need anything further, please let me know. John Suttle Jane McBride@ENRON 02/26/2001 10:36 AM To: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Alan Aronowitz/HOU/ECT@ECT, John Suttle, Carol St Clair, Mark Taylor/HOU/ECT@ECT Subject: Re: Enron: ISDA Schedules Dear Susan, I am not really sure what the answer is to your question and I am not really sure whether these decisions are ultimately made by legal or credit although I suspect the latter. John or Carol, do you have any thoughts? Jane McBride Senior Legal Counsel Enron Japan Corp. Tel.: 81-3-5219-4500 (Main) 81-3-5219-4553 (Direct) Fax: 81-3-5219-4510 Assistant (Maggy Yamanishi) Tel.: 81-3-5219-4554 Email: Yo.Yamanishi@enron.com Susan Musch@ENRON_DEVELOPMENT 2001/02/24 07:21 To: Jane.McBride@enron.com cc: Edwin.T.Whatley@BAKERNET.com, Paul.TYO.Davis@BakerNet.com, Yukinori.Watanabe@BAKERNET.com, Jeremy.Pitts@BAKERNET.com, Jeff Blumenthal/Enron@EnronXGate Subject: Re: Enron: ISDA Schedules Jane, I am guessing that in practice, Enron Japan would not accept the tender for collateral in the US for transactions it enters into in Japan. However, would you please confirm this? Best regards, Susan Edwin.T.Whatley@BAKERNET.com on 02/23/2001 03:13:15 AM To: smusch@enron.com, Jane.McBride@enron.com cc: Paul.TYO.Davis@BakerNet.com, Yukinori.Watanabe@BAKERNET.com, Jeremy.Pitts@BAKERNET.com Subject: Enron: ISDA Schedules Dear Susan and Jane: Please see attached, best regards, Ed Edwin.T.Whatley@bakernet.com Phone: 81-3-3796-5857 Fax:81-3-3479-4224 Registered in Japan as an Attorney at Foreign Law; Jurisdiction of Primary Qualification--California; Designated Law--Washington, D.C. and All U.S. States Except Louisiana This is an e-mail from Baker & McKenzie - Tokyo Aoyama Law Office (Qualified Joint Enterprise Offices). The contents of this e-mail may be privileged and confidential and are intended only for the use of the addressee. No one else may copy, forward, disclose or use all or any of it in any form. If you are not an intended recipient, please notify us immediately (by reply e-mail) and delete this e-mail from your system. Thank you. - Enron-sm10.doc Message-ID: <OFCF340DD0.8125722C-ON862569F9.008254E8@enron.com< From: Susan.Musch@enron.com To: Edwin.T.Whatley@bakernet.com Cc: Paul.Davis@bakernet.com, Jeff.Blumenthal@enron.com, Jane.McBride@enron.com Subject: ISDA Schedules Date: Wed, 21 Feb 2001 08:43:34 +0800 Return-Receipt-To: Susan.Musch@enron.com MIME-Version: 1.0 X-Mailer: Internet Mail Service (5.5.2653.19) Content-Type: multipart/mixed; boundary="----_=_NextPart_002_01C09D78.DAD2FA70" Ed, I am attaching the memo that you wrote last May on the Japanese tax consequences of financially settled derivative transactions and physically settled transactions. I have also attached copies of current ISDA and Credit Support Annex ("CSA") Schedules. I need you to review the ISDA and CSA Schedules and revisit and comment on your attached advice as necessary. Also, I need you to give more specific advice with respect to collateral. We generally take and give as collateral either cash or letters of credit. We should assume that cash may be pledged in Dollars or Yen and that it may be held in the US or Japan. As always, I appreciate your help with this matter. Would you please let me know if you can provide comments by your close of business on Thursday? Best regards, Susan (See attached file: ISDA Schedule - Japan.doc)(See attached file: CSA - Japan.doc) ---------------------- Forwarded by Susan Musch/ENRON_DEVELOPMENT on 02/20/2001 05:54 PM --------------------------- Edwin.T.Whatley@BAKERNET.com on 05/11/2000 04:38:03 AM To: smusch@enron.com cc: Paul.TYO.Davis@BakerNet.com, Yukinori.Watanabe@BAKERNET.com, Jeremy.Pitts@BAKERNET.com, Shimon.Takagi@BAKERNET.com, Kohji.Mori@BAKERNET.com, Shinichi.Kobayashi@BAKERNET.com Subject: Enron Online Dear Susan: Please see attached. Best regards, Ed Edwin.T.Whatley@bakernet.com Phone: 81-3-3796-5857 Fax:81-3-3479-4224 Registered in Japan as an Attorney at Foreign Law; Jurisdiction of Primary Qualification--California; Designated Law--Washington, D.C. and All U.S. States Except Louisiana This is an e-mail from Baker & McKenzie - Tokyo Aoyama Law Office (Qualified Joint Enterprise Offices). The contents of this e-mail may be privileged and confidential and are intended only for the use of the addressee. No one else may copy, forward, disclose or use all or any of it in any form. If you are not an intended recipient, please notify us immediately (by reply e-mail) and delete this e-mail from your system. Thank you. (See attached file: Enron-sm09a.doc) - ISDA Schedule - Japan.doc - CSA - Japan.doc - Enron-sm09a.doc
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