LAST UPDATED JANUARY 23, 2013
This website was set up in 1998 by the Judicial Trustee ("JT") for the ERON MORTGAGE CORPORATION group of companies ("Eron" or "EMC"), including Eron Financial Services ("EFS") and Capital Productions Inc. ("CPI").
Effective July 2012, PricewaterhouseCoopers Inc., in its capacity as Judicial Trustee, completed the administration of the Eron estate. This website will be displayed for two years for the convenience of the Eron lenders, however, the site will have no further postings, updates, or changes made to it. This website will be decommissioned in October 2014.
Final distributions on all of EMC's "positive projects" were issued in August and September, 2011.
In February 2012, final distributions to lenders in Eron Financial Services and Capital Productions Inc. were issued.
Summary: Distribution of EMC Funds
During the 9 months prior to August 2011 and during the months October 2011 to February 2012, the Judicial Trustee tried to locate the many Eron lenders who had moved and not left a forwarding address, or, who did not respond to the RSP Election form that was mailed to them in October 2010.
After all attempts at locating lenders, there remained approximately 500 lenders who we were unable to reach. These lenders' funds have been directed to one of three places:
1. The British Columbia Unclaimed Property Society ("BCUPA"): please refer to the attached List of Lenders to BCUPA (pdf) to determine if your name is on the list, and for information on how to claim your funds.
2. The British Columbia Supreme Court authorised and directed the Judicial Trustee to remit the distribution to the Canada Revenue Agency ("CRA"), if a Social Insurance Number ("SIN") or Business Number ("BN") was obtainable. If your name appears on the attached List of Lenders to CRA (pdf) then between January and July 2012, the JT remitted your net distribution payment to CRA to be credited to your income tax account.
3. The Office of the Superintendent of Bankruptcy for the Capital Productions Inc. Lenders who could not be located.
BRIAN SLOBOGIAN BANKRUPTCY
Shortly after the demise of Eron Mortgage Corporation, Brian Slobogian filed for personal bankruptcy, and Abakhan and Associates ("Abakhan") was appointed as Trustee in Bankruptcy over his estate.
The criminal proceedings against Mr. Slobogian for his involvement in Eron Mortgage Corporation resulted in 1 fraud and 4 theft convictions:
1) Fraud against South Thompson Guest Ranch ("STGR") lenders
On your behalf, the Judicial Trustee submitted claims against Mr. Slobogian's estate, for the STGR lenders. The Judicial Trustee also submitted claims against Mr. Slobogian's estate for the Eron Financial Services Ltd. ("EFS") promissory note holders, as these notes had been personally guaranteed by Mr. Slobogian.
The Judicial Trustee supplied Abakhan & Associates with the most recent lender listing of the STGR and EFS lenders in order to pay the various distribution amounts directly to these lenders. Similar to the Judicial Trustee's experience, Abakhan were not able to locate all of the lenders.
If you were a lender in either STGR or EFS and you did not receive a distribution, please refer to South Thompson Guest Ranch and Eron Financial Services Distributions (pdf), for information on how to claim your payment.
2) Theft against the lenders in Shuswap Falls, Maxim Resorts, Ucluelet & GP Airport
On your behalf, the Judicial Trustee submitted claims against Mr. Slobogian's estate, for the lenders in these 4 projects. The monies received by the Judicial Trustee in respect of the Shuswap Falls & GP Airport lenders, were distributed by the Judicial Trustee, along with the final distribution payment on the project's recovery in August/September 2011.
The monies received by the Judicial Trustee in respect of the lenders in Maxim Resort & Ucluelet were applied against the indirect costs of those 2 projects. As both of these projects were 'zero recovery' projects, there were no funds available for distribution to the individual lenders.
All questions pertaining to the sale of the lands, and any subsequent distribution of funds that may follow, must be directed to either Mr. Dimond or Mr. Buchanan, as PricewaterhouseCoopers Inc. no longer acts in any capacity over the Valleyview Heights lands. Valleyview Heights Lender Contact Information (pdf).