7/181201 11:39 AM CST FTC/Jeepers vs. Zwirn: Opening Statement This is in main part a a-relatively-simple breach of contract case. The dollars are large, the circumstances unusual, and the characters are colorful. But the issue to be decided is plain-vanilla. The contractual language is not complicatedis clear , and the legal principles are the stuff you learn the first week of law school in contracts class. jd Under the terms of the 2005 Letter Agreement between FTC/Jeepers and the Zwirn Fund, FTC was entitled to withdraw its "Capital Account" on March 31, 2007, so long as it gave notice before December 1, 2006. Notice was given to withdraw $80 million. But the money was not paid. As a result, the Fund owes FTC a minimum of $80 million plus prejudgment interest, which is recoverable as a matter of right. This claim is the heart of the case. [this needs to be beefed up if we decide to continue asking for the $133m1 My guess is that the Hearing evidence, however, will not have much to do with this claim. -Andi-ufge-11-euf-H-Ofief-net-te-lese-feeus-en what—real matters. The parties will debate hotly what exactly EFTA01149747