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EXECUTION cory
PRINeETON ECONOMICH INTERNATIONAL LD
2 ‘Memnraadeon of Apranmrent
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‘Ac Mann HOM ant, DipAWsaty THORH Ant ONEPHT CONS oF Th
‘Ag Joint Provisional Liquidators B€ Priseotont ‘Bennomles fatematienal bts,
urmlar Order of the Supreme Cocrt, Providerclales, Tusks and Cxlces Ietands
amenw,
. and
: 7 1
‘ ‘ALAN ML COHEN, .
“An Tiecalver in retpeet of Peinteeton Beonomies Internsstertal Ltd ante
‘Princeton Globsl Mi ammemt LA “under Order of Lnltes Sie
‘Distelet Court fy tw Seubert Distret ae Now York
Dreedt Oetabor 7, 1999
'
Ie Dafintions. Annex Atoka MOA ponsains 4 eto the defined serms used
horeln, . * # é
1, US. Cases, On Septunter V3, 1999, she SEC and ihe CETC commenced
tha US, Cases. Also on thet date, Hon, LYwis A. KAPLAN, ULSD. algned the Fest
TRO. On Seplember 17, 1999, Hon, Muckann Owsr, USDI, signed the Second TRO,
3. Ter Care, On September 17, 1999, PEL pethioned the TCT Course appeint
the JP La and on that data HOH, THERAICK REDMAN yighed a otder appealing them.
. A, furtedteilona Olpute and Corfiteting Qrdters, Bowh Courts purport 55 ave
Jurisdtetian over cama or ull of the Aarets. “Thera are disputes ariong the Receiver: aad
SPLa ns tr which has what ghia wi} respect 10 whieh Assels, Nothing goniained feseln
i iptended aa resolve such queatony of jurldletton ve rights, and the parties rezerve alt
of thele rights {irespect thereot, an :
SL. Prinelples Undertylng This MGA. “The Recelver and JPLs urgently. desire 0
qesolve thelr disputes condensually sith a View 10 artdressing promptly-ond effectively the
pressing, teed far afficlant and camfprehensive administration ofthe Assets. The Recelver!
and the JPLS agree that ench ef thera has dutles t0 Adantlly, mcover, preserve ond pratect ‘
ne Anuein in an efficlent ned post-giTactive coarser, and to asimiza the tecaverien af.
areditors tn expect hereof, and sgfee thar thelr respoetlve attlons aod deelajons that be
fn furtherance of such duties, me :
In Perec ttemov ee aul
wy RM LOE UASH/CFTC zaz aia
S29 70 912t :
579,J0,gi2tzozezes! - Pus
Pascd try the foregoing tustwal agreement, the Receiver and tha PLs kelfeve they
-will baable effectively te allocate raspensibities for adminivration af PEL and other
qhernbers af Grup botwass them and, to chat rnd, hava agreed that cxrutin serivides may
a unidertaiaen by eeeh of therm [a thate individual afseretlod and that, during the term of
the MOA, all thetr ohor activites shall olther be murnally agreed upon by Ween
‘Aushenty or authorized by order of Hath Cours.
6. Batic Agrtement, Fromwed after tha effective dete of this MOA and until
auch time ar tmnad os the agreement exipiacted In this MOA ts cuperneded or terminated
ns provided horeli, the Reseiver and the TPLs agree 1 faflowa! :
(a). Bxaaptar acpressly provided hereln and In Annes B hereto, the Reesiver
amnd the FPL shall jake notion in raspect of tha Gatos and she Aszeix ifard only if such
sections are pursuant to the joint Weltten Authority atthe Redbiver and the 7PLs, In the
event thm Receiver end lhe JPL dizagree with rerpesr te ny aname of ution proposed by
Eltyer of them, such ucton shall be zaken aaly pon approval thetent by orders of Hoth
Courts, ‘The Tecelver ard the JPLx aach shart have the right to commence proceedings it
Bath Cours cecklng suet a determination pn seaonsble antige (6 the ether parcy snd 1S
she SHC and tha CFEC, :
th). Amy funds which at any ime some under the contrel af rbu Receiver or she
JPLs shall be depenited Inte appeopriate, repregated xscountn controlled ty wach pasty
‘and shall be invested In a manner agocnd by the Receives and the IPL, provided that
{A)_ tho Recefver shall pay, ft funds fn the Reeelver’s canfeo! (1) the
ou fees, costy and expanses af tha Receiver aad ix proforslanala upon
8, Court approval thereof (ax ell as reasonabs retainers te any professionals
eraployed by ihe Reesiver pending paymant), (H) up to $1.0 snititon Inwenpect of
reusormble faea, soxts and expensed of the JPL: I thal ere
payable in acensdana fora
Be TCU Court, to the extent Anda in the contzol of ths JPLs from time vo sime are
inaaffielent therefor (at Well as reasonable retainers 19 the IPLs and any
prafescionald amployed by them perding payment), ond (iI) such ncher nendanis
ad may be necertary to carry out activities permivsd under Anacz B benafar __
othervisa permitted to be expercind In accordance with the procedures sol forth in
a
(B) the IPLs shall pay, from funds id Yee PCa’ corel (1) the renschable,
feet, costs and expenies.of the JPLx and their profeeslonal (including any
apprapriste teralners to the JPLs and peovesslonils employed by either of thém
‘pending payment) and (Il) nich asher sryounts at may be iecessary 10 tarry ut
getlyitlas permitted under Annex B heraot er oiherwise permitted tobe expended
Inaucordanea with tha ptocedures eet farth In paragraph &(8) above,
inyyitecnmaicrrarterre eve
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