Dear Sara:

I learned that the proposed draft was up for signature by members of the
association shortly.  The vicechairman of ADA indicated that he thought that
it was late to make suggestions for this round but Enron's participation
would be welcome for future developments.  He confirmed that the model
agreement is aimed at transactions between residents of Argentina where one
of the parties is a local financial entity, and basically at financial
derivatives.  While commodities are mentioned in the draft they are not
aiming at covering commodities derivaties at this stage.  Note that only
banks were backing the project.  I have to confirm all this with the
secretary of the association who I could not reach last week. My list of ADA
members is slightly outdated but I count on obtaining a new from him when I
reach him.

We could arrange meetings with some of this people when you visit.  Maybe we
could organize an informal lunch at the firm One of my colleagues has been
very much involved in lobbying for derivatives tax legislation.  You could
meet with him when you come.

Other news is that they have resubmitted the draft law on netting to
Congress.


Best regards

Patricia
> -----Mensaje original-----
> De: Sara Shackleton [SMTP:Sara.Shackleton@enron.com]
> Enviado el: Mi,rcoles, 16 de Febrero de 2000 02:06 p.m.
> Para: pla@marval.com.ar
> Asunto: ADA and general issues
>
>
>
> Patricia:  I was wondering if you had an opportunity to speak with any
> persons
> associated with the Argentine Derivatives Association in connection with
> our
> discussion of last week.  I can't recall if you were going to try to speak
> with
> the lawyers for Citibank and/or Morgan to determine whether the ADA might
> welcome our participation in the association, and specifically, with
> respect to
> the template currently in circulation.  I think you were also going to
> attempt
> to locate a current membership list for the association.  Please advise
> when you
> have further information.
>
> I am trying to plan several trips to Argentina and Brazil.  I am
> considering a
> trip to BA during the week of February 28.  Will you be in town that week?
> During my visit, my tax colleague from Houston and I will try to meet with
> local
> tax consultants and organizations lobbying for tax reformation.  Regards.
> Sara
>
>
>
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