Message-ID: <21984986.1075844950972.JavaMail.evans@thyme> Date: Thu, 8 Jun 2000 10:18:00 -0700 (PDT) From: steve.duffy@enron.com To: michael.burke@enron.com Subject: Re: EOTT: Call to McAndrews (Lloyds/Montana case) Cc: dana.gibbs@enron.com, maryellen.hall@enron.com, michael.moran@enron.com, stanley.horton@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: dana.gibbs@enron.com, maryellen.hall@enron.com, michael.moran@enron.com, stanley.horton@enron.com X-From: Steve Duffy X-To: Michael Burke X-cc: Dana Gibbs, MaryEllen Hall, Michael Moran, Stanley Horton X-bcc: X-Folder: \Stanley_Horton_1\Notes Folders\Discussion threads X-Origin: HORTON-S X-FileName: shorton.nsf Sounds good. Mike Moran has the numbers for our Montana lawyers and I will assist him any way I can. The big question is whether Enron, as a whole, would be willing to give up any protection they might still have under the old InterNorth policies. SWD Michael Burke 06/08/00 04:23 PM To: Steve Duffy/Houston/Eott@Eott cc: Dana Gibbs/Houston/Eott@Eott, MaryEllen Hall/Houston/Eott@Eott, Michael Moran/ET&S/Enron@Enron, Stanley Horton/Corp/Enron@Enron Subject: Re: EOTT: Call to McAndrews (Lloyds/Montana case) Steve, Stan and I have discussed this and we agree that Mike Moran should take the lead and explore all aspects of an Enron Global deal. I know that you will assist Mike in this endeavor. thanks, mike Steve Duffy 06/06/00 10:57 AM To: Michael Burke cc: Stanley Horton/Corp/Enron@Enron, Michael Moran/ET&S/Enron@Enron, Dana Gibbs, MaryEllen Hall/Houston/Eott@Eott Subject: EOTT: Call to McAndrews (Lloyds/Montana case) Here is the initial feedback from the Montana lawyers. Looks like Lloyds is more interested settling with EOTT as part of a global buy out of all old InterNorth policies. I wouldn't place any stock whatsoever in the comment Lloyds' representative made about Studdert. He has been very helpful and highly professional in all matters pertaining to this case. EOTT and Enron might be able to negotiate some sort of settlement as part of a global buy out, but I don't know if Enron would even consider this. Studdert might have the best feel for this. Separately, the defendant group will get back to us on any offer they might be willing to make to settle just the Montana case, but it appears that their real interest would be in a "global" deal. Any comments? SWD ----- Forwarded by Steve Duffy/Houston/Eott on 06/06/2000 10:36 AM ----- "Glenn Tremper" 06/05/2000 05:39 PM To: "Jean Faure" cc: Steve Duffy/Houston/Eott@Eott Subject: EOTT: Call to McAndrews I spoke with Jim McAndrews late this afternoon. I told him EOTT was interested in following up on the possibility of settling the case, which he left open after the trial. He said that, after trial, London concluded they wanted to, in essence, buy out all of Enron Corp's coverage and were not interested in settling the case on its own. They corresponded with Jim Studdert a few times during the winter, but Jim responded in a way that John said was rude. If we are interested in talking about a buy-out, London would be interested. I told him that would be very difficult for EOTT to arrange, as it is not the sole insured. I asked if buying out just EOTT's coverage was a possibility. He pointed out that there is a strong connection between the two (Enron's listing in Martindell lists EOTT's attorneys, he claims) and thinks it could be done as one package. In any event, London really wants to deal with all the coverage under the Internorth policies. I told him I had heard about the buy-out campaign elsewhere and had forwarded material to Studdert on that issue. I need to follow-up with Studdert and Duffy to figure out where Enron/EOTT is on this issue now. I asked what number his people would be willing to pay just to settle the Ashland claim, in the likely event that there could be no buy-out. He said he would need to talk with London about that. I suspect it will be quite small. We agreed that we would each speak with our people and get back in touch early next week. I left a voice mail with Steve to this regard, but I'm copying him as well for his information. CONFIDENTIALITY NOTICE: This message is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this message is not the intended recipient, you are hereby notified that dissemination, distribution or forwarding of this communication is strictly prohibited. If you received this communication in error, please notify the sender immediately and delete this message from any device/media where the message is stored. Thank you.