Investors picket businessman’s WV residence Legal action initiated over marme Cargo container scheme A GROUP. of 40 people gathered Sunday outside the home of West Vancouver businessman Joseph Koiton to protest against a marine cargo container scheme that has gone awry. The investors are among’ 750 people who sunk $8 million into the purchase of the containers. Lease payments to the investors are now more than $2 million U.S. in. arrears, according to North Shore resident Donn Kadler, Kadler is spearheading legal action for approximately 500 in- vestors against Kelion and _ his company, Barrons Leasing Co. Ltd. . 44 These containers do not _belong to Mr. Kolton or Barrons Leasing. They belong. to us. 99 _« WV investor Nigel Bunning The investments involved the purchase of 20-foot and 40-foot containers from International Container Sales Ltd, which were ’ to be managed by Barrons Leasing “Co. Ltd. Both companies were Originally Gased in North Van- couver. . By Elizabeth Collings News Reporter The; have not received a proper payment in three years, Bunning said. Bunning, who is semi-retired, has not suffered financial hard- ship, but said the majority of in- vestors are senior citizens, some of whom planned to use the con- tainer investments to supplement their pensions. “*‘These containers do not belong to Mr. Kolton or Barrons Leasing. They belong to us,” he said. Kadler said Kolton, who rents a house uf 2867 Bellevue Ave., has ignored two 3.C. Supreme Court orders to provide the investors with the location of the containers and to return the containers at the owners’ request. He added that an examination for discovery of Joseph Kolton revealed that the Ontario Securities Commission imposed a cease trade order against Interna- tional Centainers and Barrons in April 1987. Richmond resident Bill Drum- -mond, 77, bought six 40-foct containers for $30,000 from In- ternational Containers. He said the protest outside Kolton’s home displayed the in- vestors’ frustration at the length of time it is taking to recoup their losses. NEWS photo Heil Lucente NICK, SERNENIUK gets his message across during a demonstra- tion outside the West Vancouver home of Joseph Kolton. About 4@ people gathered Sunday to show their frustration over in- vestments made in marine cargo containers. The investors claim that Kolten, the man behind the scheme, and Barrons Leasing, which he heads, haven’t lived up to their contracts. According to the contracts, in- vestors were to get 14-16% return on their containers which would be leased to shipping companies. The owners had an option to sell after five years for a modest ‘fee and were also able to deduct capital cost allowances from con- tainer income for a tax benefit. For the first four years, the in- vestments performed according to the sales and lease contracts, Kadler said. But in 1988, the investments started to turn sour. Payments were reduced by one- -third and then suspended temporarily; when they restarted they were at one-quarter of anti- cipated returns. West Vancouver resident Nigel Bunning, his wife, and two children bought 11 containers in 1984 and 1985 for $35,000 U.S. a “They’re madder than hornets because it was all such a clear-cut deal,’” Drummond said, adding that he has never met Kolton in person and describes him as ‘‘very evasive.”* Kadler is now working with Gulf Pacific, the Canadian agent for *Textainer, a San Francisco- based company that has offered to buy or manage the containers for the investors. The company is trying to get the authority of the B.C. Supreme Court orders extended to include Hong Kong, where Barrons is now based, so the containers, estimated to be worth $3 million, can be re- covered. Kolton has 2n unlisted phone number. He did not return messages from the North Shore News left with his answering ser- vice. : NEWS photo Stuart Dovis RESCUERS WORKED for about an hour to extricate an unconscicus woman trapped in an ever- turned car tn North Vancouver Wednesday afternoon. According to the police, a jogger spotted a 1980 Chevette 30 feet down an embankment on Lynn Headwaters Road. The cause of the single-vehicle accident is still under Investigation. Lesfie Bland, 40, of Mount Lehman, was listed in stable condition at Lions Gate Hospital Thursday. It’s time to hit the slopes. Local mountains open today for skiers - SKIERS WILL be able to get in their first runs of the ski season on local ski hills today as Grouse, Seymour and Cypress prepare to open their 1991-92 ski seasons. @ Grouse Mountain is planning to open today with its Paradise rope tow and Blueberry chairlift to midstation operating from 4 p.m. to 11 p.m. + On Saturday and Sunday, Grouse will open from & a.m. to 4 p.m. Reduced rates for lift tickets are in effect. Grouse Mountain’s director of skiing Rob Wallace said - the mountain may use subsequent weekdays to blow more snow onto its runs, or, if Grouse receives more snow, the mountain may open mid-week. “There’s more snow in the forecast, so things may change,’’ said Wallace. On Thursday, Grouse had a snow depth of 60 centimetres (23.6 in.), including 15 centimetres (5.9 in.) of new snow received overnight. During the ‘1991- *92 ski season, Grouse will celebrate the 25th an- niversary of the Grouse Mountain Blue Skyride; special events are planned throughout the season. New this season is Grouse’s “‘sure turn system,’’ a ski program that guarantees skiers will progress to the end of the next level by the end of the lessons. When Grouse is fully opera- tional, its ski hours will be 8 a.m. to 1! p.m. An adult day lift ticket costs $28. @ Seymour is scheduled to open its Lodge chairlift and Goldie rope tow at 9 a.m. today; at 10 a.m. the Mystery Peak Chair is sched- uled to open. The mountain will close at 4 p.m. According to marketing director Chris Carter, Seymour has a 65- centimetre (25.6 in.) base at the parking lot and hopes to open the Ridge and Brockton chairs as soon as the mountain receives more snowfall. When fully operational, Seymour's ski hours will be from 8 a.m to 10 p.m. A day lift ticket (any age) costs $11, Monday through Friday, and $26 on weekends. @ Cypress was forecasting Thursday that the mountain would open today from 8:30 a.m. to 4 p.m. with limited runs in operation. Cypress received seven By Elizabeth Collings News Reporter centimetres (2.7 in.) of new snow overnight Wednesday for 4 snow. depth of 34 centimetres (13.3 in.) at the mountain base and 138 cen- timetres (54.3 in.) at midstation. When Cypress is fully opera- tional, its ski hours will run from 8:30 a.m. to 11 p.m. on weekdays or from 8 a.m. to II p.m. on weekends. Day adult lift tickets cost $27. @ Meanwhile, Blackcomb and Whistler have been open since Nov. 22 and as of Thursday both hati snow bases of 150 centimetres, ~ (59 in). - os This year Whistler invested $15. milion. in two new ~ quad chairlifts. Tie Quicksilver “tift, Crees’ to midstation where they ~« trans!=> to the new Redline quad - chair. From base to alpine, the © trip taxes 15 minutes. Whistler and Blackcomb ‘ operate from 9 a.m..to 3 p.in. Adult liit tickets cost $40 for each mountain or $42 for a dual- mountain pass. Because | ski conditions can change rapidly, skiers should phone the tecal mountains for updates on hours of. operation. — (The quoted iift ticket. prices do not include 7% GST.) ~ ree Block Watch credited for drop in break-ins WHILE THE number of break-ins to homes throughout the Lower Mainiand continues to escalate, North Vancouver is bucking the trend with a 21% decrease in the number of residential break-ins oc- curring in North Vancouver City and District “this year. North Vancouver RCMP credit its successful Block Watch program as the reason for the reduction. Said Const. Marty ilais, “‘We have seen in the past few- months an increase of calls coming into this office from Block Watch participants- reporting all types of suspicious activities. Residents are * recognizing and reporting suspicious activities which quite often lead to residential bur- @ Up until this time last year, 147? residential break-ins had been reported in North Van- couver City and District. e Thus far this year, 1,173 residential burglaries have been reported in the two North Vancouver municipalities. Block Watch is a joint effort of police and residents to reduce local crime; 4,060 homes are covered under the program in North Vancouver By Michael Becker. ; ‘News Reporter City and District. . Recently one Block Watch participant told the police of “suspicious activity’? taking place at a home in the neighborhood. The police responded and _ subsequently arrested a man wanted on sev- eral warrants. In another case, a Block Watch participant noticed a suspicious vehicle in a nearby cul-de-sac. She called the police and investigating officers arrested three people in posses- sion of a stolen vehicle and stolen property. Added Blais, ‘‘The RCMP encourage the public to join forces with Block Watch to br- ing burglaries to an all-time low in our area.”’ For more information call Const. Blais at 985-0800. high-speed” ” which: a replaces the old gondola and Olive .. . Chai; moves skiers from Whistler |