Further to my voice mail of 5/31/00 on your cell phone ,
 Sara, I see no particular issues as to the enforceability in Sweden of 
arbitration under a deemed ISDA.  Incidentally, Sweden has, without 
reservations, signed and ratified the 1958 New York Convention (on the 
Recognition and Enforcement of Foreign Arbitral Awards) and arbitration has 
also long been used in Sweden and is generally the preferred method of 
settling disputes at the international level.  

The rights of appeal against arbitral awards are limited in Sweden.  Swedish 
law sets out three (exhaustive) grounds for the per se invalidity of an 
arbitral award (wholly or partly):

the award determines an issue which is non-arbitable;
the award, or the manner in which the award arose, violates Swedish public 
policy; or
the award is not in writing or signed by the arbitrators. 

In addition, an arbitral award is challenable under Swedish law where certain 
procedural irregularities have occurred, such violation of due process, 
relief in excess of claim, invalidity of the arbitration agreement, lack of 
legal competence of arbitrators, etc.

I hope that the foregoing will give you the requisite guidance.  Please 
contact me if you require any further info.

Martin
---------------------- Forwarded by Martin Rosell/OSL/ECT on 2000-06-01 13:58 
---------------------------
From: Sara Shackleton on 2000-05-31 17:01 CDT
To: Martin Rosell/OSL/ECT@ECT
cc:  

Subject: Further to my voice mail of 5/31/00 on your cell phone

Martin:  I wasn't certain if I sent you an email earlier today, but I am in 
need of current information regarding Swedish law, in connection with an ENA 
swap with a Swedish corporate.  I faxed our counsel (from the 1996 
derivatives survey) Advokatfirman Vinge KB to inquire about the 
enforceability of arbitration in ISDA agreements between US and Swedish 
parties.  Do you know the answer?  Or do you have any other suggestions?  We 
did a trade yesterday and I'm trying to document using a deemed ISDA.  I 
appreciate any help.  Regards.  Sara
sara.shackleton@enron.com