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Eron Lenders
Project Name: #1109, 1174 and 1208
Borrower: Everbrite Ventures Ltd.
Lender update
Date: January 19, 1998
The borrower presented an offer to settle the amounts outstanding under the mortgages for $250,000
After considering the value of the property, the time frame for realization, and the timeliness of recovery for lenders, we countered at $300,000 and set terms in respect of any settlement
lender lead representatives have all been contacted for their input
we expect settlement discussions to be concluded by January 27, 1998
Yours truly
Judicial Trustee
Eron Lenders
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