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TransferorEnronEnron orENGMEnron orENAEnron orENAEnron orENAEnron orENAEnron orENAEnron orENAEnron orENAEnron orENAEnron orENGMEnron orENAEnron orENGMEnron orENGMEnronEnron orENAEnron orENAObligorENGMandEnronENGMandEnronENGMandEnronENGMandEnronENGMandEnronENGMandEnronENGMandEnronENGMandEnronENGMandEnronENGMandEnronEnron orENGMENGMandEnronENGMandEnronENGMandEnronEnron orENGMENGMandEnronENGMandEnronInitial Transfereeor BeneficiarySubsequentTransferee(s)InitialTransferDateTransactionCitibank 11/19/99 Roosevelt(fees)Delta; Citibank*Delta; Citibank*Delta; Citibank*Delta; Citibank*Delta; Citibank*Delta; Citibank*Delta; Citibank*Delta; Citibank*Delta; Citibank*CAFCO;CitibankCAFCO;CitibankCAFCO;CitibankCAFCO;CitibankCAFCO;CitibankCAFCO;CitibankCAFCO;CitibankCAFCO;CitibankCAFCO;CitibankTransferAmount$1,857.4411/17/99 Roosevelt $169,431,427.2011/17/99 Roosevelt $343,966.0911/5/99 Roosevelt $656,353.5910/7/99 Roosevelt $615,902.159/7/99 Roosevelt $618,560.108/5/99 Roosevelt $607,272.547/8/99 Roosevelt $54,159.377/6/99 Roosevelt $516,501.346/7/99 Roosevelt $697,506.25Delta; Citibank* 5/10/99 Roosevelt(fees)Delta; Citibank*CAFCO andCRC; Citibank$9,699.885/7/99 Roosevelt $2,267,492.14Delta 5/6/99 Roosevelt $45,164,051.00Delta; Citibank*CAFCO andCRC; Citibank5/3/99 Roosevelt $374,933,093.56Citibank 4/30/99 Roosevelt(fees)Delta; Citibank*Delta; Citibank*CAFCO andCRC; CitibankCAFCO andCRC; Citibank$8,699.734/6/99 Roosevelt $2,345,362.413/5/99 Roosevelt $2,151,431.08604041v1/007457-252-
TransferorEnron orENAEnronEnronEnronor ENAEnronor ENAEnronor ENAEnronor ENAEnronor ENAEnron orENAEnron orENAObligorENGMandEnronEIM andEnronEIM andEnronEIM andEnronEIM andEnronEIM andEnronENAInitial Transfereeor BeneficiaryDelta; Citibank*Sundance Industrial;Salomon Holding*Sundance Industrial;Salomon Holding*Sundance Industrial;Salomon Holding*Sundance Industrial;Long Lane*SubsequentTransferee(s)CAFCO andCRC; CitibankSalomonHoldingSalomonHoldingSalomonHoldingInitialTransferDate TransactionTransferAmount2/5/99 Roosevelt $2,556,304.4211/29/01 SundanceIndustrial11/14/01 SundanceIndustrial10/1/01 SundanceIndustrialCitibank 7/18/01 SundanceIndustrialSalomon Holding 6/27/01 SundanceIndustrial(fees)Sundance Industrial;Caymus Trust*Long Lane;Citibank6/1/01 SundanceIndustrialEnron Salomon Holding 6/1/01 SundanceIndustrial(fees)ENAandEnronENAandEnron$434,387.50$28,500,000.00$764,021.67$406,417.50$250,000.00$208,500,000.00$475,000.00Citibank 9/29/99 Truman $312,515,786.09Citibank 6/29/99 Truman $1,200,000.00Enron Enron Citibank 11/15/01 Yosemite I $511,111.00Enron Enron Yosemite I Trust;Citibank*Enron orENAEnron orENAENAandEnronENAandEnronDelta; Citibank*Delta; Citibank*Enron Enron Yosemite I Trust;Citibank*Enron orENAEnron orENAENAandEnronENAandEnronDelta; Citibank*Delta; Citibank*Citibank 10/16/01 Yosemite I(interest)Citibank;Yosemite I TrustCitibank;Yosemite I Trust$6,062,500.0010/12/01 Yosemite I $1,745,810.0010/12/01 Yosemite I $27,254,190.00Citibank 4/20/01 Yosemite I(interest)Citibank;Yosemite I TrustCitibank;Yosemite I TrustEnron Enron Delta; Citibank* Citibank;Yosemite I TrustEnron orENAENAandEnronYosemite I Trust;Citibank*$6,062,500.004/13/01 Yosemite I $33,073,590.0010/13/00 Yosemite I $29,000,000.0010/13/00 Yosemite I(interest)Citibank 5/31/00 Yosemite I(interest)$6,062,500.00$242,875.46604041v1/007457-253-
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ENRON CORP., et al.Reorganized Debt
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DEUTSCHE BANK TRUST COMPANYDELAWARE
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TABLE OF CONTENTSPageI. NATURE OF T
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d. The Insiders engaged in a scheme
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(d) Barclays’ improper appropriat
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(a) LJM1 and the Rhythms Hedging tr
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COUNT 17COUNT 18(Avoidance of the C
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F. COUNTS 42 - 44 (Against Merrill
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COUNT 67(Recovery of the Challenged
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Steele ............................
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REORGANIZED DEBTORS’ FOURTH AMEND
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3. A second large group of transact
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these partnerships secret from Enro
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approved the employment of Stephen
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managed by a new board of directors
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17. Plaintiff and the affiliated en
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headquarters at 270 Park Avenue, 35
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Germany. Deutsche Bank AG does busi
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55. Defendant Deutsche Bank, S.A. i
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67. Defendant Merrill Lynch Capital
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successor, agent, co-conspirator, c
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10. The RBC Defendants92. Defendant
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107. Not Used.108. Defendant Sphinx
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118. Defendant Enron Sterling Credi
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126A. Each of FleetBoston Financial
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eports. In these reports and their
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Fastow was fired in late 2001 and E
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c. Fastow and Kopper orchestrated (
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immediately. As part of his plea ag
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3. How The Scheme Workeda. Enron em
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could not trade with others in the
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• Funds flow from operations, def
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d. The Insiders engaged in a scheme
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178. Self-interested partnerships -
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specifically, when the relevant tra
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eported the repayment obligation as
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nature of these transactions and/or
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2governs the securitization of fina
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unless independent third parties ma
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211. An actual example: On December
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transactions. The Insiders took the
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LJM2. In doing so, the Insiders rec
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LJM2 (technically, LJM Co-Investmen
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235. From the beginning, Fastow kne
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244. The Southampton transaction ul
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249. By the end of December 1999, f
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threats of no future business or pr
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Fastow’s participation in the LJM
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262. Citigroup’s participation in
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Id. at B-1 (emphasis added).266. Wi
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period, Citigroup completed over 60
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one another and to cause one anothe
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Yosemite IV USD 5/24/01 $775.1 mill
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linked promissory notes to institut
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of which also involved Enron) and o
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and Andersen may have worked togeth
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monetizations became less attractiv
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(3) The minority interest transacti
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CITI-B00393281 (quoted in Exam. III
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issued Irrevocable Letter of Credit
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Citigroup’s own internal descript
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alance sheet. Through Sundance Indu
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[T]he Bacchus transaction was steep
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327. Before the Bacchus transaction
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tier 1 banks.” CITI-SPSI 0036296.
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prepays, two FAS 140s, and one tax
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(1) Chase’s relationship with Enr
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using a proprietary technology. It
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discussion on this about 6 weeks ag
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357. In its complaint against Chase
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it was “purchasing the Natural Ga
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his July 28, 2003 letter to Manhatt
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commodity to JP Morgan Chase) under
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378D. In late November 2001, JPMC d
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Garden State Paper Company, (ii)
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ankruptcy. By the late 1990s, Barcl
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398. The Insiders used Nikita to mo
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agreement but an instrument that wo
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408J. On or about December 7, 2000,
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For example, Colonnade had not been
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420. Upon information and belief, t
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429. On or about October 30, 2001,
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(c)Three million Four Hundred Fifty
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447. Each of the various individual
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that effectively provided Barclays
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464. The Nixon prepay allowed Enron
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All three (Deutsche Bank AG, Banker
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financial statements improperly rep
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customer to report the transaction
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Insiders intended to accomplish the
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497. As part of the transaction, BT
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(3) BT/Deutsche Bank limited its En
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disclosed, “Enron could not have
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511. CIBC knew that in every FAS 14
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understanding of the Insiders’ go
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523. Again, however, before CIBC ag
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able to manipulate and misstate Enr
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achieve accounting objectives, incl
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Complaint in SEC v. Merrill Lynch,
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539. From 1997 through 2001, Merril
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transaction. He also wondered where
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550. Merrill Lynch knew that the 19
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Insiders’ schemes, including its
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(2) LJM1 and LJM2.561. As discussed
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566. CSFB therefore knew the hedge
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proceeds resulting from those share
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(3) The Prepaid Oil Swaps.577. In D
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(4) FAS 140 transactions.(a)Nile583
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or some of the equity investment. C
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equity investment was not at risk.
Page 221 and 222: App. L. at 22-23 n.81). In his resp
Page 223 and 224: CSFB colleague two days before givi
Page 225 and 226: Dominion’s return on Enron-relate
Page 227 and 228: IV, App. G at 7 & n.23. In addition
Page 229 and 230: Payments went in a complete circle
Page 231 and 232: Dominion prepays - as cash flow fro
Page 233 and 234: 619. Toronto Dominion also knew it
Page 235 and 236: that, as a limited partner in LJM1,
Page 237 and 238: etween 1997 and 2001, and, as of No
Page 239 and 240: at 45. In addition to the direct an
Page 241 and 242: these restrictions, a 39% discount
Page 243 and 244: een held in LJM1, and RBS’s total
Page 245 and 246: substantially assisted the Insiders
Page 247 and 248: RBS compromised by letting the Insi
Page 249 and 250: easons.” RBS 3141116 (quoted in E
Page 251 and 252: manipulation” in Enron’s financ
Page 253 and 254: saw their experiences with Enron-re
Page 255 and 256: Exam. at 102-03. RBC knew the Insid
Page 257 and 258: thing. However, we cannot in the do
Page 259 and 260: earn higher fees, then selling the
Page 261 and 262: investment that was not at risk and
Page 263 and 264: transactions in which Merrill Lynch
Page 265 and 266: TransferorObligorInitialTransferee
Page 267 and 268: 716. On or within one year before t
Page 269 and 270: 717. The transfers identified in th
Page 271: TransferorObligorInitial Transferee
Page 275 and 276: TransferorEnron orENAEnron orENAEnr
Page 277 and 278: 742. By reason of the foregoing fac
Page 281 and 282: TransferorEnron or ENAor ENGMEnron
Page 285 and 286: 765. Upon information and belief, w
Page 297 and 298: 789. Each of the Chase Preferential
Page 303 and 304: 796. Although certain of the Chase
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Page 319 and 320: 823. The payments characterized as
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TransferorEnron or ENAor ENGMEnron
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840. The Chase 548 Purported Margin
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transactions (“Prepay Obligations
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COUNT 15(Avoidance of the Chase Pre
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871. Enron and/or ENA received less
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Code, those transfers are pled alte
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TransferorEnron orENAEnron orENAEnr
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902. The Barclays Preferential Tran
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of the security interest that is th
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TransferorEnron orENAEnron orENAEnr
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921. To the extent that any of the
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Barclays Bank on or about November
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COUNT 25(Avoidance of Unauthorized
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940L. By the Barclays Improper Appr
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949. Pursuant to section 553(b) of
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953. By reason of the foregoing fac
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the parties could, under certain co
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976. By reason of the foregoing fac
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y reference.COUNT 33(Avoidance of t
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996. Each of the BT/Deutsche Bank 5
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Transferor Obligor TransfereeEnron
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Transferor Obligor TransfereeEnron
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COUNT 36(Disallowance of Claims Und
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TransferorEnron orENA or ACFIObligo
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TransferorObligorInitialTransfereeo
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COUNT 40(Recovery of the CIBC 544 T
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elieved that they would incur, debt
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1068. The CSFB Preferential Transfe
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1082. Each of the CSFB 548 Transfer
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1095. Each of the CSFB 544 Transfer
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and (b) that CSFB, Pyramid I and/or
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H. COUNTS 50 - 54(Against Toronto D
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Transferor ObligorInitialTransferee
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COUNT 52(Avoidance of the Toronto D
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TransferorEnron or ENAEnron or ENAE
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1135. Upon and information and beli
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TransferorObligorInitialTransferee
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1167. The transfers identified in t
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J. COUNTS 60 - 64(Against RBC Defen
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1227. The Challenged Transaction Ob
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1232. The Challenged Transaction Ob
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1242. The Intentional Fraudulent Tr
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1250. The Intentional Fraudulent Co
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Plaintiff’s creditors and conferr
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1265. Plaintiff cannot at this time
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Transferor Defendant continued to h
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communications with investors the I
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1273. As a direct and proximate res
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information about the company’s c
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1287. Insider Causey did not disclo
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1299. Insider Fastow did not disclo
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1310. Insiders Fastow and McMahon d
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June 20011322. The Insiders did not
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Committee meeting on December 13, 1
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Chase IX Prepay1356. The Insiders d
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Chase XI Prepay1367. The Insiders d
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meetings in and around the time of
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transaction (including a meeting on
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despite the fact that the transacti
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the time of the transaction (includ
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1478. The Insiders did not disclose
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time of the transaction (including
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Committee meeting, at the August 1,
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1520. Insider McMahon did not discl
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1999, or the verbal insurances they
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(3) employing transactions with the
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(b)On or about September 17, 1999,
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(a)On or about November 24, 2000, S
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JP Morgan Chase1546. In connection
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1549. In connection with the Chase
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(a)On or about September 13, 2001,
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(a)On or about September 20, 2001,
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(e)In order to fraudulently meet Ar
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(b)On or about March 27, 1997, Thom
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(c)On or about December 29, 1998, R
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(a)On or about December 15, 1998, S
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1578. In connection with the Specte
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(o)On or about March 2, 2001, Rober
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(c)On or about December 8, 2000, Ja
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(a)On or about December 12, 1998, V
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(c)On or about December 13, 1999, D
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(f)On or about November 12, 1999, D
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(i)On or about March 1, 2001, Goss
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1596. Enron’s injuries as describ
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that were financially involved with
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(b) that CSFB, Pyramid I and/or Sph
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ENRON CORP., et al.,Reorganized Deb
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