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Caesars Landing RRSP Notification Letter
Project Name: Caesars Lakeshore Estates Ltd.
May 2003
Dear Eron lender:
Re: Caesars Lakeshore Estates Ltd. Interim Distribution
PricewaterhouseCoopers Inc., in its capacity as Judicial Trustee, has finalized the sale of the Eron project commonly known as "Caesars", and is ready to proceed with an interim distribution to the project's lenders.
Eron's records indicate your investment in Caesars was held in a Registered Retirement Savings Plan (RRSP or RRIF). We advise you have 4 options for payment:
1) If your self-directed plan still holds this mortgage with a value, we must pay your proceeds directly to the RRSP Trustee.
2) If you previously elected to have your mortgage value "zeroed down" and closed, you may have these proceeds transferred to another RRSP of your choice, providing your new institution will accept payment on an asset (the mortgage) which they do not hold.
3) If you previously elected to have your mortgage value "zeroed down" and closed, you may request to re-instate the mortgage, and have the proceeds paid to the RRSP Trustee.
4) If you previously elected to have your mortgage value "zeroed down" and closed, you may have these proceeds paid to you in cash. As the funds are registered, paying them directly to the lender will constitute a withdrawal from the RRSP, and appropriate withholding tax will be applied.
The first three transactions above are tax exempt, that is, the funds remain registered. Please confirm your option for payment and account information on the RRSP form (download form from this site) and return it to us as soon as possible.
Questions arising from your RRSP institution can be directed to Patty Cotton at PricewaterhouseCoopers Inc. at (604) 806-7780 ext 4146.
PricewaterhouseCoopers Inc.
Judicial Trustee
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