<PAGE> 1
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).
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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
________________________________________________
<TABLE>
<CAPTION>
<S> <C> <C>
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
___________________________
</TABLE>
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
________________________________________________
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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
