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Interim Distribution - October 2003
On October 9, 2003, 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
Caesar's Landing
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 Place
Wilmington River *
Projects notated by * are projects where funds distributed are released in US dollars; all other funds are released in CDN dollars. The mailing of cheques will commence the week of October 14, 2003. Total funds distributed will be $3,732,472.24 CDN and $1,354,325.27 US.
Investors who hold registered (RRSP or RRIF) investments and who have not completed the one page response form from the mailing August 2003 are reminded to do so, and return it to PricewaterhouseCoopers immediately.
Upon completion of this distribution, all of the above project's lenders will have received 70% 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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