SCHEDULE 13D SCHEDULE 13D IS PROPOSED TO BE AMENDED. SEE BELOW. REG. 240.13D-101. Schedule 13D - Information to be included in statements filed pursuant to 240.13d-1(a) and amendments thereto filed pursuant to 240.13d-2(a). SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Act of 1934 INTERUNION FINANCIAL CORPORATION ________________________________________________ (Name of Issuer) COMMON STOCK, $0.001 PAR VALUE, PER SHARE ________________________________________________ (Title of Class of Securities) 460 926 306 ________________________________________________ (CUSIP Number) SELWYN J. KLETZ, 499 RIVERSIDE DRIVE, TORONTO, ONTARIO CANADA M6S 4B6 ________________________________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices & Communications) JUNE 30, 1997 ________________________________________________ (Date of Event which requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies should be sent. * The remainder of this cover page shall be filled out for a report person's initial filing on this form with respect to the subject class of securities, and for any subsequent amemdment containing information which could alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be sujbec to all other provisions of th Act (however, see the Notes). CUSIP No. 460 926 306 ___________ NUMBER 5 IS PROPOSED TO BE AMENDED BY REVISING IT TO READ "(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D)" IN RELEASE NO. 34-34923 (85.452) NOVEMBER 1, 1994. ________________________________________________ 1) Names of Reporting Persons S.S. or I.R.S. Identificantion No. of Above Persons SELWYN J. KLETZ S.S./I.R.S. NOT APPLICABLE ________________________________________________ 2) Check the Appropriate Box if a Member of a Group (See Instructions) A) ________________________________________________ B) ________________________________________________ 3) SEC Use Only ________________________________________________ 4) Source of Funds PF ________________________________________________ 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(c) ________________________________________________ 6) Citizenship or Place of Organization CANADIAN ________________________________________________
Number of (7) Sole Voting Power 100,000 Shares Bene- _________________________________ ficially (8) Shared Voting Power Owned by _________________________________ Each Report- (9) Sole Dispositive Power 100,000 ing Person ____________________________ With (10 ) Shared Dispositive Power ___________________________
11) Aggregate Amount Beneficially Owned by Each Reporting Person 100,000 ________________________________________________ 12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ________________________________________________ 13) Percent of Class Represented by Amount in Row (11) 8% ________________________________________________ 14) Type of Reporting Person (See Instruction) IN ________________________________________________ ITEM 1. Security and Issuer The class of equity securities to which this statement relates is the common stock, $0.001 par value ("Common Stock"), of InterUnion Financial Corporation, ("Issuer"), a Delaware corporation, whose principal executive offices are located at Suite 301H, 249 Royal Palm Way, Palm Beach, Florida, 33480. The percentage of beneficial ownership reflected in this Statement is based upon 1,220,250 shares of Common Stock, outstanding on November 14, 1997, which number has been obtained directly from the Issuer. ITEM 2. Identity and Background a) This statement is filed on behalf of Selwyn J. Kletz ("Kletz") b) Residence Address: 499 Riverside Dr. Toronto, Ontario Canada M6S 4B6 c) Principal Occupation: Vice-President and Director, InterUnion Financial Corporation ITEM 3. Source and Amount of Funds or Other Consideration a) On October 1, 1996, Kletz subscribed for 40,000 shares of Common Stock of the Issuer pursuant to Regulation "S" for consideration of $200,000. Purpose: contribution to working capital of Issuer. b) On June 30, 1997, Kletz exercised an option entitling the purchase of 60,000 shares of Common Stock for consideration of $180,000. Purpose: contribution to working capital of Issuer and acquisition of Leon Frazer, Black & Associates Ltd. SIGNATURE After reasonable inquiry and to the best of the undersigned's knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: November 14 , 1997 SELWYN J. KLETZ By: /s/ Selwyn J. Kletz ------------------- Selwyn J. Kletz