Message-ID: <24669049.1075840060304.JavaMail.evans@thyme> Date: Mon, 24 Dec 2001 13:36:14 -0800 (PST) From: legal <.hall@enron.com> To: sean.crandall@enron.com Subject: RE: CRC Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Hall, Steve C. (Legal) X-To: Crandall, Sean X-cc: X-bcc: X-Folder: \ExMerge - Crandall, Sean\Inbox\Bankruptcy X-Origin: CRANDELL-S X-FileName: Yes, that's the way to handle this. We may see more deliveries resuming, because under most contracts counterparties can only suspend for a limited time. Unfortunately, we can't guarantee payment to these counterparties. The bankruptcy lawyers advise us that contracts signed before December 2 are pre-petition, and deliveries made under the contract are pre-petition. Counterparties have to do the math and see whether they are better off delivering to us---and not getting paid---or terminating, and paying us for the in-the-money value of the contract. For some, like EPE, they are better off in the short run by just delivering to us. Best, Steve -----Original Message----- From: Crandall, Sean Sent: Friday, December 21, 2001 9:27 AM To: Hall, Steve C. (Legal) Subject: CRC On Dec. 21 CRC called and wanted to resume deliveries at the Mid-C (they are delivering to us). I'm assuming this is OK. Let me know otherwise. Sean