ERON MORTGAGE INFORMATION WEBSITE
THE ERON LENDER COMMITTEE

ERON LENDERS COMMITTEE
JOINT PROJECT/LENDERS MONTHLY NEWSLETTER

March & April 2000



**** IMPORTANT DATES/MEETINGS ****

JOINT MONTHLY MEETINGS
- TUES. MAY 2/00 - TUES. JUN 6/00

COURT:
None at this time

OTHER:
-MAY 5/00 DEADLINE RESPONSES TO PWC LETTERS (RE-ASSESSING TAXES)


!!!! REMEMBER !!!!
IT'S UP TO YOU TO GET IFORMED

- CALL THE INFO LINE# 878-4484
- CHECK THE WEBSITES#LISTED BELOW
- ATTEND MEETINGS#MONTHLY (RIGHT)
- CONTACT PROJECT COMMITTEE LEADS
- CHECK THE NEWS PAPER, RADIO OR TV


WEBSITES TO VISIT (www.)

Supreme Court documents: http://www.courts.gov.bc.ca
Eron/PWC (various archives etc): http://www.eron-pwl.com
Class Action updates: http://www.campchurch.com
Eron links: http://www.geocities.com/WallStreet/6380


YOUR ELC MEMBERS & CONTACTS ARE:

- James Tindle: 438-0915 (FAX: 438-2795)
- Anthony Jasich: 986-00419 (FAX: 986-0499)
- Erika Inacio: 438-0485 (email: einacio@ansa.com)
- Donna Fraser: 521-0446 (FAX: 534-4399)
- Ritsa Mavroudis: 582-5094 (FAX: same #)


???'s ABOUT REVENUE CANADA LETTER??
CALL DAVID CRAIG @ 713-6680 NOT PWC!


REVENUE CANADA

LETTERS SENT OUT FOR:
- EMERALD 4,5, & 6TH
- NEXUS (3 PROJECTS)
- NITINAT
- PAULSEN ROAD
- SOUTH THOMPSON GR
- STS QUADRA
- MAXIM


***NOTE DEADLINE***
MAY 5, 2000
ALL PROJECTS THAT HAVE BEEN SENT OUT TO-DATE!


FUNDS RETURNING TO RRSP'S OR RRIF'S???

MAKE SURE YOU HAVE AN RRSP OR RRIF ACCOUNT OPEN SO THAT THE FUNDS CAN BE RETURNED WITHOUT HAVING TO PAY TAXES. THE FUNDS DO NOT HAVE TO BE RETURNED TO THE LAURENTIAN OR CANADA WESTERN TRUST. CHECK WITH YOUR OWN BANK OR BROKER WHO HANDLES YOUR OTHER RRSP'S! APPARENTLY, PWC HAS HELD ONTO FUNDS BECAUSE ACCOUNTS HAVE BEEN CLOSED AND PWC HAS NOT RECEIVED UPDATED INSTRUCTIONS FROM LENDERS.


*DONATIONS NEEDED*

We continue to ask that Lenders support the ELC's. We must pay for such items as photocopying, title searches, court searches etc.

Please send your contribution to:
Eron Lenders Committee
c/o Anthony Jasich, "In Trust"
4725 Glenwood Ave
North Vancouver, BC
V7R 4G6


THE ELC WOULD LIKE TO THANK LENDERS FOR THEIR CONTRIBUTION AND SUPPORT


**** NEWS/UPDATES ****

1. 1. Testing the e-mail addresses on file has been an extremely time consuming, but fairly successful, task. Responses to the test e-mail, for the most part, have been positive and Lenders are looking forward to communications via this media. We have approximately 420 confirmed/tested e-mail addresses. We have several people who have failed to respond. We still need Eron Lenders to contact others who may have e-mail, but have not been asked to respond to the test e-mail. Please ask them to e-mail Erika directly at: einacio@ansa.com so that they can be added to the e-mail database and be included in any future e-mailings. There are approximately 200 e-mail addresses that need to be clarified. We are looking for several volunteers who can help Wendy contact these people by either phone or fax. If you can help, please call Wendy at 929-6003#Thank you!!

2. 2. The 570 Dunsmuir application, which was heard on March 8th, was dismissed. This means that the formula for the indirect cost application remains unchanged. However, the court was asked and has awarded costs. The cost for ALL legal fees, for projects which had representation in court, will be borne by ALL the lenders because these costs will now be added to the pool of indirect costs.

3. 3. BCSC penalties handed down:
- Slobogian banned for life (25 years), received a $300,000 fine and 75% of hearing costs.
- Biller banned for 10 year, $300,000 fine and 25% of hearing costs.

In addition, each of the 4 companies also received a $300,000 fine. Total fines#$1.8mil, excluding BCSC hearing costs, not yet determined. BCSC will likely never collect and are placed behind the lenders in collecting their monies.

4. Revised letters are now being sent out as listed on Page 1 of this newsletter.

5. Distribution has gone out for#Gaetz and others were being mailed out by the end of March..


**** ISSUES PENDING ****

- Appeal of the class action to the Supreme Court of Canada
- Project Committees must be resurrected, many projects still have no committees


NEED HELP? -CALL:

1. INFO LINE
2. PROJECT LEADS
3. ATTEND MEETINGS
4. VISIT WEB-SITES (PG 1)
5. CALL AN ELC MEMBER FOR GUIDANCE


***** TRI-CITY NEWS ARTICLE *****

FEB 23/00-Insiders Sued

A civil suit was filed Feb 11th by PWC. Eron was a "ponsi scheme" where new lenders' funds were used to pay interest to other lenders. Defendants are; Sharon Shields, who got $110,792 prior to the Eron shutdown, and Randy & Maria Bender, who received $445,000. Both are alleged to have "gained a preference over other creditors" because they were "insiders" and that they "received an amount in payment for their interest in each of the projects which was conspicuously greater than the fair market value..."

OTHERS TO FOLLOW??!!!


PWC CLAIMS THEY'RE RECEIVING UP TO 40 CALLS PER DAY! THEY DO NOT WANT TO HANDLE THESE CALLS AND IT'S COSTING US LOTS OF $$$$$! PLEASE SEE "NEED HELP" NOTE (ABOVE) THKS!


NEW ADDRESS, PHONE, FAX, ETC...?

Please advise by fax to the following:

Catherine Palmer-PWC#806-7630
John Hall-ELC database#876-9082




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