ERON MORTGAGE INFORMATION WEBSITE
THE ERON LENDER COMMITTEE

MINUTES OF MEETING - February 2, 1999

Joint ELC Project Leaders & All-Lenders Meeting
Royal Canadian Canadian Legion #148, Burnaby, B.C.


1. Tindle opened the meeting at 7:10pm, welcoming more than 150 attendees, and then introduced D. Church of Camp Church & Assoc., who spoke for about 20 minutes updating the Eron lenders on the class-action lawsuit. The certification hearing scheduled for Mar.29 has been cancelled, to be rescheduled for a yet to be determined April date. On March 2-3 the Cause of Action Hearing will occur, which will result in a determination as to the status of the Third Parties, and in particular whether they will be severed from the Action at this time. Contention continues between CC and the Government's lawyers regarding the admissibility of certain ' privileged' documents.


2. Craig Bushell spoke for about an hour and forty-five minutes regarding RRIF's, RRSP's, and cash- accounts matters that PWC will be handling for Revenue Canada on behalf of lenders. For the tax years prior to 1998 voluntary Election-to-refile forms will be provided by PWC in the spring, to be returned to PWC for transmission to Revenue Canada, Ottawa. All lenders will be required to provide their Social Insurance Numbers to PWC. as identification for Revenue Canada processing.


3. Tindle provided an update on a number of topics.

* On Feb. 5 PWC will apply to Court for a stay of proceedings of Biller's bankruptcy, in order to initiate civil fraud charges against him.

* In February, if the Court grants to PWC an order suspending the Mareva injunction, PWC will file a Writ against O. & B. Slobogian for monies owing to Eron Financial Services.

* In February PWC will appeal the Order of Justice Bauman in favor of O.Slobogian's obtaining funds from the Mareva Trust Fund for her and B. Slobogian's legal expenses.

* A recent Order by Judge Tysoe blocks PWC from borrowing Eron lenders' realized project funds to provide interim financing for other projects. Bushell had indicated the result of this decision apropos Gateway might also be an even lower return on many other projects needing financing for their realizations. PWC will apply to Court after Tysoe's Distribution ruling for further clarification and directions.

* J. McDermott noted that because of the size of the shortfall in dollars from the projects' realizations it seems likely some lenders' funds were secretly deposited by Eron principals in offshore accounts.

* D. Jackie will be the subject of a 2nd Writ brought by PWC.

* Tindle emphasized again the importance of equal treatment under the law due to Eron lenders, which is provided for in the Canadian Charter of Rights, and he explained the difficulties the under-budgeted RCMP is experiencing in pursuing the individuals associated wiyh the Eron disaster.

* Tindle asked the lenders to write letters about Eron matters to the following politicians:

Honourable Lawrence MacAuley, M.P., Solicitor General of Canada,
Parliament, Ottawa, Ontario

Honourable Ann McLelland ,M.P., Minister of Justice for Canada,
Parliament, Ottawa, Ontario

Honourable Ujjal Dosanjh, M.L.A., Attorney General of B.C.,
Parliament, Victoria, B C



At 9:45 PM. the meeting was adjourned.

Secretary: Steve Ripley
tel: 222-1646
fax: 222-1641





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