Message-ID: <8283719.1075855397485.JavaMail.evans@thyme> Date: Thu, 27 Dec 2001 09:03:02 -0800 (PST) From: sara.shackleton@enron.com To: lisa.mellencamp@enron.com Subject: 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: Shackleton, Sara X-To: Mellencamp, Lisa X-cc: St. Clair, Carol X-bcc: X-Folder: \Sara_Shackleton_Jan2002\Shackleton, Sara\Sent Items X-Origin: Shackleton-S X-FileName: sshackl (Non-Privileged).pst 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