I don't know the Merit case. As for Badack, ENA has filed suit and moved for 
Summary Judgment on liability.The hearing will take place in the next month. 
On Thursday  Oct 12th, I met with  Badack's outside attys re settlement. 
Badack offered $2.375 mm. ENA's last offer was $5.0mm. We agreed to exchange 
additional offers. Is this update enough?



	William S Bradford
	10/11/2000 02:23 PM
		 
		 To: Richard B Sanders/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT
		 cc: Molly Harris/HOU/ECT@ECT, Wendi LeBrocq/Corp/Enron@Enron, Jeffrey T 
Hodge/HOU/ECT@ECT
		 Subject: Bankruptcy Update

Richard/Peter,

As part of our portfolio insurance resporting requirement, we are 
contractually obligated to provide updates on potential claims in our 
portfolio.  As such, please provide an update to the Badak Gas Marketing, 
Inc. litigation status and Merit Energy Ltd. bankruptcy status respectively.

Your prompt attention to this issue would be appreciated.

Regards,
Bill