Subject: FW: Global setoff/net out agreement
From: [email-masked]
To: [email-masked], [email-masked], legal <[email-masked]>
Date: Thu, 15 Nov 2001 09:39:13 -0800 (PST)

-----Original Message-----
From: 	"Hofer, Charles" <[email-masked]>@ENRON  
Sent:	Thursday, November 15, 2001 8:40 AM
To:	"[email-masked]:'" <[email-masked]:>; Hendry, Brent
Cc:	Brown, Chuck
Subject:	Global setoff/net out agreement

Bill,

As much as I'd like to get a "global agreement" with several of our large
counterparties it cannot be done.  Legal has advised there are concerns
about these being enforceable.  It was a good idea , but it is not workable.
We must continue margining each other the way we are doing now.

Charles

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