Eron top executives should face severe sanctions: BCSC

Article Abstract:

The British Columbia Securities Commission (BCSC) has announced that the top executives of the collapsed Eron Mortgage Corp should should face severe sanctions for their role in the failure of the Vancouver-baseed mortgage broker. BCSC said that executives Brian Slobogian and Frank Biller should be barred from becoming or acting as directors or officers of any issues for 25 years, and should be prevented to enter any investor relations activities during the period. Investors in the failed Eron lost a total of C$200 million.

Legal issues & crime, Mortgage Bankers & Brokers, Mortgage and Nonmortgage Loan Brokers, Eron Mortgage Corp.

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Alliance Forest drops pursuit of Pacifica

Article Abstract:

Alliance Forest Products Inc of Montreal, Quebec, has called off its proposal to acquire Pacific Papers Inc of Vancouver, British Columbia. The deal would have created a company with about C$1 billion in debt on its balance sheet because part of the plan was to assume Pafica's C$605-million debt load. This would weigh down Alliance which is currently spending millions of dollars to upgrade its Quebec and Alabama paper mills.

Asset sales & divestitures, Acquisitions & mergers, Paper & Allied Products, Paper Manufacturing, Paper industry, Pacifica Papers Inc.

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