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Enron Mail |
Mark,
Tanya requested that I forward the following email to you. Please contact me if I can provide any further information or assistance. Paul ---------------------- Forwarded by Paul Radous/Corp/Enron on 01/03/2001 07:03 PM --------------------------- From: Tanya Rohauer @ ECT 01/03/2001 06:57 PM To: Paul Radous/Corp/Enron@ENRON cc: Subject: Re: Smith Barney AAA Energy Fund Has Mark Taylor been informed? From: Paul Radous @ ENRON 01/03/2001 04:53 PM To: William S Bradford/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT cc: Subject: Smith Barney AAA Energy Fund A little update on the hedge funds. Apparently, these types of customers do not contact us if they do not receive confirmations of their trades. This has lead to a problem. Smith Barney has indicated that they completed a January swing buy from Enron, trade date 11/28/00. We have no record of the trade, and the tapes have since been erased/destroyed. And, of course, they never sent correspondence to us indicating that they lacked a confirmation. In defense of Smith Barney, they might have contacted us if we had been anywhere close to timely on our issuance of the other confirmations. Since our traders transacted without approval, we were not prepared with the special language. I had no idea this trade existed until the c/p disagreed with our mark to market numbers. John Arnold is in discussions with the counterparty. I am supposed to be hearing the resolution tomorrow. The position on the trade in dispute is approximately $1MM out of the money from Enron's perspective. I will keep you posted.
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