Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: Smart_Money who wrote (994)	12/1/2001 3:18:42 PM
From: buffaloha	Read Replies (1) of 1433

Wasn't the DYN transaction within the 90 day preferential transfer period? When was the DYN $1.5B loaned, not more than 90 days ago. [perhaps this Dec. 19 date Watson refers to is the expiration period]. So, the clock may still be ticking to tie up the pipeline in THIS bankruptcy. There clearly are ways for the trustee to keep it in the asset pool by alleging improprieties (if any) against DYN, or otherwise as a preferential transfer. Who was it who said: Without any 10 commandments, there can't be any sinners? It seems AA's job as auditor was to search and destroy any impropriety. But under what rule? Was there any? Clearly? Are we all assuming this thing is going bankrupt based on ENE violating some "rules"? What rules? Seems AA may be in this mix too, because they were supposed to find any problems with the "rules." If no problem with the accounting, then DYN may have more explaining to do about why it took the collateral and then (foreseeably) tanked ENE by pulling out of the deal. As a competitor, DYN stands to gain huge by this tactic. Unfairly, I presume. Especially if they were in fact given all the info, as alleged. Someone ought to get the banks, the creditors and those with "exposure" to find a way to save ENE or there will be not much left to pay them off... Lots of "sinners" to go around if they ever find out what real rules apply...

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