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.- ; <br />Snell &Wilmer <br />L_4P. <br />uw arms <br />1200 Sevrnternth Street, Suite 1950 <br />Tabor Center <br />Denver, Colorado 80202 <br />(303)634-2000 <br />Fax: (303)6342020 <br />Robert D. Comer (303) 634.2015 <br />Inte~5~y~itom <br />January 26, 2001 <br />SALT IAKEQIY.IftAH <br />VIA HAND DELIVERY AND FACSIMILE TRANSMISSION <br />Cheryl A. Linden, Esq. <br />Robert D. Clazk, Esq. <br />Assistant Attomey General <br />1525 Sherman Street, 5th Floor <br />Denver, CO 80203 <br />Re: First Fortnightly Report, NOV # CV-2000-010 <br />S&W File No. 38283.0001 <br />Deaz Cheryl and Bob: <br />Fax: 303-866-3558 <br />Fax: 303-866-5671 <br />This letter constitutes Powderhom's first Fortnightly Report pursuant to your letter of <br />January 12, 2001. Powderhom appreciates the willingness of the Colorado Division of Minerals <br />and Geology (DMG) and the Colorado Attomey General to allow Powderhom to work towazd <br />resolving the financial assurance issue created by the federal delisting of Frontier Insurance <br />Company ("Frontier"). <br />The report contains three parts as identified in your letter. Part I identifies the efforts <br />taken by Powderhom during the period between January 16 to 26, 2001, to obtain a replacement <br />bond, including contact information. Part II identifies the steps taken by Powderhom during this <br />period to have Frontier obtain an alternative form of financial assurance. Part III identifies other <br />activities undertaken by Powderhom during this period to resolve this matter. <br />Preliminary Activities <br />Powderhom's first activities during this period involved organizing an action team and <br />assigning primary responsibilities to accomplish the requirements imposed by the State's Action <br />Plan. Powderhom and its executive staff will be involved in seeking a replacement bond. This <br />effort will be led by Mike Jamison. Members of the Dechert law frm will be involved in <br />pursuing aFrontier-based remedy. This effort will be lead by Ethan Fogel and Tom Munno. <br />Any Powderhom team member will be involved, as appropriate, in conducting activities <br />necessary under the "Other efforts" category. For instance, as is reported below, Mr. Fogel has <br />approached the Secured Lender Group with respect to this matter. Bob Comer and Denise <br />iiiiiiiiiiuiiuiii <br />999 <br />~~- RE ED <br />tti+vtnootrm.+ta <br />JAN 16 1001 <br />RCFND'n ARVDNA <br />Division of Mimrals and Geel9gy <br />nxsar, Aa¢a+n <br />mvaat, rivnownn <br />nao.l <br />Snell 6i Wilmer n a memher o(Ltx mu~ni, a leading ass«imwn u( mdcprndrne lax firms. <br />