Here are the most recent memos.  A second e-mail will provide another memo.
 

Angela D. Davis 
Enron North America Corp. 
1400 Smith Street, EB3817 
Houston, Texas 77019 
Tel: (713) 345-8347 
Fax: (713) 646-3393 
e-mail: angela.davis@enron.com 

-----Original Message-----
From: Brownfeld, Gail 
Sent: Wednesday, July 11, 2001 9:23 AM
To: Marks, David; Keeney, William
Cc: Haedicke, Mark E.; Schuler, Lance; Davis, Angela
Subject: BNYCP Litigation Analysis:PRIVILEGED AND CONFIDENTIAL


Attached are the memoranda prepared by outside counsel assessing the BNYCP litigation.  To avoid as much confusion as possible, I suggest reading the Andrews & Kurth memo first, the Bernstein memo second and the risk matrix last.
In a nutshell, all agree that this is a very fact intensive case and that there has been little factual discovery to date.  It is also agreed that we have been denied the benefit of some of the evidence available as a result of the confidentiality obligations in place. Accordingly, much of the analysis provided is really counsel's "best guess" based on the information available. 
That being said, there seems to be a general agreement that, based on the facts currently available and the "quick and dirty" analysis that we have been able to do, the exposure ranges from approximately $20 to $50 million. Interest and attorney fees could also prove significant. 
I am available to discuss this further if you think that would be helpful.  Thanks for your patience.