Message-ID: <23569551.1075855402267.JavaMail.evans@thyme> Date: Thu, 27 Dec 2001 15:22:44 -0800 (PST) From: lisa.mellencamp@enron.com To: sara.shackleton@enron.com Subject: RE: Requests for return of cash collateral Cc: carol.st.@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: carol.st.@enron.com X-From: Mellencamp, Lisa X-To: Shackleton, Sara X-cc: St. Clair, Carol X-bcc: X-Folder: \Sara_Shackleton_Jan2002\Shackleton, Sara\Inbox X-Origin: Shackleton-S X-FileName: sshackl (Non-Privileged).pst they will need to file a proof of claim for this amount. the money was not segragated so they have a claim just like any other unsecured creditor. we should call them and advise that they will need to file a claim for the funds. -----Original Message----- From: Shackleton, Sara Sent: Thu 12/27/2001 4:32 PM To: Mellencamp, Lisa Cc: Subject: RE: Requests for return of cash collateral yes, earlier this year (posted in the form of "up front collateral"). -----Original Message----- From: Mellencamp, Lisa Sent: Thursday, December 27, 2001 1:13 PM To: Shackleton, Sara Subject: RE: Requests for return of cash collateral was the cash margin given to us pre-petition? -----Original Message----- From: Shackleton, Sara Sent: Thursday, December 27, 2001 11:03 AM To: Mellencamp, Lisa Cc: St. Clair, Carol Subject: Requests for return of cash collateral Lisa: ENA has received a second written request from a financial counterparty (Union Spring Fund Ltd.) for the return of $150,000 cash collateral plus interest. The cash was posted as initial margin on trade date of the swaps. We have confirmed that all trades were terminated as of mid-December, 2001. The counterparty has not sent a "termination letter" as there was nothing to terminate, but has sent a letter requesting return of the collateral. Although we may not want to return the cash, aren't we obligated to do so? Sara Shackleton Enron Wholesale Services 1400 Smith Street, EB3801a Houston, TX 77002 Ph: (713) 853-5620 Fax: (713) 646-3490