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Enron Mail |
Sara:
We have never gotten comfortable with the Canadian cash collateral issue. You may recall that Shari recently looked into this but her situation was limited to a particular counterparty. I was never comfortable with the advice that I got from Blake, Cassells and would suggest that we follow up with stikeman which is who Shari worked with. She may have some updated memos on this in the file she was working on (I think it was Duke). Molly and I never talked about this. Mark needs to pick someone who should be in charge. Molly was never interested in meeting to talk globally about this but I think that a meeting with her and Bradford needs to occur. Take care. Got to go. Hope to see you in about 2 weeks. Carol St. Clair EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com Sara Shackleton 08/03/00 01:31 PM To: Carol St Clair/HOU/ECT@ECT cc: Mark Taylor/HOU/ECT@ECT Subject: Cash collateral in Canada Carol: Hope all is well. We are missing you every day. (1) On a "swap" related note, we have a Canadian party requesting the ability to post cash collateral to ENA. Can you recall where we left off on the issue? I seem to remember conflicting advice (Peter's insistence upon the Stikeman memo and ENA simply not agreeing to accept cash) and uncertainty as to how ENA could perfect its interest and what law governs (in cash held in a U.S. account). (2) On a "credit" related note, I was forwarded the 7/24/00 Margin Exception Report (originally sent to your attention). What were you doing to follow up on this report? Yesterday, Mary gave me a copy of a "collateral letter" being sent by Molly Harris. Did you speak with Mary about working on this project in your absence? Edward Ondarza is moving to EBS. Stephanie Panus starts on Monday. That's all the news for now. Talk to you soon. Sara P.S. Can you send photos over the net?
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