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Enron Mail |
-----Original Message----- From: "Rick Antonoff" <Rick.Antonoff@cwt.com<@ENRON Sent: Tuesday, October 30, 2001 10:24 AM To: lmellen@enron.com Cc: Mark Ellenberg; David Mitchell Subject: Forward Contracts - End User Re you voice message. The safe harbor - section 556 -- allows a "forward contract merchant" to liquidate a forward contract. A "forward contract merchant" is defined as "a person whose business consists in whole or in part of entering into forward contracts as or with merchants in a commodity . . . " I would say that an end user, or any counterparty, is as much a "forward contract merchant" as Enron is since the end user has in fact entered into at least one forward contract with Enron, and can therefore liquidate upon an Enron bankruptcy. Let me know if you have a different view or if that does not answer your question. Rick ============================================================================== NOTE: The information in this email is confidential and may be legally privileged. If you are not the intended recipient, you must not read, use or disseminate the information. Although this email and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by Cadwalader, Wickersham & Taft for any loss or damage arising in any way from its use. ==============================================================================
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