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Interim Distribution - February 2001
On February 2, 2001, PricewaterhouseCoopers Inc. obtained a Court Order for a release of funds for distribution to the Eron lenders in the following projects:
Lee Balak
Blake Davie
Castlegar
Crampton
Desert Springs *
Discovery Ridge
Enterprise Business Park
Fairways 2nd mortgage *
Gaetz Crossing
Goodridge Peninsula
Grande Prairie Airport
Leewood Village
Montagliani
Morewood *
Petrochemical
Ravenswood *
Shopkeepers *
Sterling
Wilmington River *
Projects notated by * are projects where the funds distributed were released in US dollars; all other project's funds were released in Canadian dollars. All cheques were mailed between February 5, 2001 and February 13, 2001. Total funds distributed were $3,526,644.76 Canadian and $1,666,398.24 US.
Upon completion of this distribution, all of the above project's lenders will have received 60% of their expected recovery from that project.
All calculations used for distribution are subject to change upon further direction from the Court.
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