Message-ID: <9632218.1075862205060.JavaMail.evans@thyme> Date: Tue, 13 Nov 2001 08:08:47 -0800 (PST) From: melanie.gray@weil.com To: b..sanders@enron.com Subject: Perry Gas Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: melanie.gray@weil.com@ENRON X-To: Sanders, Richard B. X-cc: X-bcc: X-Folder: \RSANDER (Non-Privileged)\Sanders, Richard B.\Deleted Items X-Origin: Sanders-R X-FileName: RSANDER (Non-Privileged).pst I know this is but a nuisance at this time, but a credible buyer of claims -- Liquidity Solutions -- has made a written offer to purchase the 3 Enron claims in the Perry Gas case at 40% of the claim. Because of the size of the 3 claims (ENA, EES, and Clinton), the amount of money that this would raise is well over $2 million if my memory serves. Yesterday, Liquidity Solutions called again and increased its offer to 45%. Perry Gas is still predicting a payout in the 55% range, but that payout will be over time given that there is litigation going on that needs to be resolved before all payouts can be made. Because ENA, EES, and Clinton all have "allowed" claims, many of the risks (and hassles) associated with selling claims is removed. I have sent the proposed 40% offers to Jim Keller, Michael Tribolet, and you, but -- understandably -- have heard nothing back. I just wanted to remind you that this is out there if you have any interest in liquidating your Perry Gas claims at this point. Given that the payout will probably take another 12 months, the last dollars would go to Dynegy. If asked for my recommendation, it would be to sell them at this point. I'm happy to give you more exact numbers of the amount of the claims and what the payout would be if you're interested. Thanks so much. I'll call later about setting up a meeting. Thanks. **********NOTE********** The information contained in this email message is intended only for use of the individual or entity named above. If the reader of this message is not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by telephone (713-546-5000), and destroy the original message. Thank you.