Re: Derivatives provisions in Bankruptcy Reform legislation

I put a call in to Cadwalader this afternoon to see if they had someone
following these bills in DC........great minds!

Carol St Clair
04/21/99 05:12 PM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: Re: Derivatives provisions in Bankruptcy Reform legislation

Mark:
I spoke with Jeff about this today and will take a look at what they've
done. From what I have seen thus far, it looks as if they have attempted to
deal with the setoff issue by revising the definitions of swap agreement,
securities contract and forward contract and creating a new defintion
called "masternetting agreement". Is it worth having one of our outside
firms look at these bills?
Carol