Message-ID: <15286764.1075854431442.JavaMail.evans@thyme>
Date: Wed, 15 Nov 2000 08:07:00 -0800 (PST)
From: david.delainey@enron.com
To: wes.colwell@enron.com
Subject: Canadian Tax Mitigation
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FYI/action
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/15/2000 
04:00 PM ---------------------------


Rob Milnthorp
11/13/2000 08:55 AM
To: David W Delainey/HOU/ECT@ECT
cc: John J Lavorato/Corp/Enron@Enron 
Subject: Canadian Tax Mitigation

Dave, we have come up with a structure that creates approx a C$45MM tax loss 
to offset our year-end projected C$50MM Taxable Income position. By doing 
this, we avoid cutting the government a cheque for roughly C$20MM. It seems 
to me that we should be able to recognize that $20MM as gross margin. We are 
meeting with Wes on Tuesday to discuss further but I thought that I should 
keep you in the loop as it is a significant transaction that you may want on 
your radar screen for your discussions with Wes. 

Regards
Milnthorp