Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: Bryan Steffen who started this subject	12/3/2001 5:55:43 PM
From: buffaloha	Read Replies (1) of 1433

Pipeline as collateral... This is very interesting. Either these banks are confident about buying into this lawsuit with DYN by agreeing that ENE disclosed all to DYN but DYN unfairly pulled out; or else the banks are fully protected by DIP financing rules and other secured position protections. Either way, it seems this bank bailout was probably in the works for some time and likely was filed under the added protective wing of the bankruptcy rules with added preferences instead of pre-bankruptcy. Either the banks will end up owning ENE (which will require it to be an ongoing concern to fully recover) or ENE will try hard to emerge and operate again. The real trouble will be overriding the negative press (and Watson's disingenuous spin) that has ridden this stock into the ground. We'll have to see, but ENE is far from being out of this fight. If I were DYN, I'd start to get very nervous. They shot their negative PR war and now they will be facing an expensive fight over the pull out. And now the Banks are in the fight against them. Ouch. I'm still betting on ENE to emerge and for DYN to fail. Payback's a >>>>>

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