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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C 20549
FORM 4
[ ] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act, 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(l) of the Investment Company Act of 1940
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<S> <C> <C>
1. Name and Address of 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Report
Reporting Person* Person to Issuer
(Check all applicable)
RIF CAPITAL INC. INTERUNION FINANCIAL CORPORATION (IUFC) ---- Director __X__ 10% Owner
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(Last) (First) (Middle) 3. IRS Identification 4. Statement for ---- Officer (give ----- Other
PO BOX 634C COLLYMORE ROCK Number of Reporting Month/Year (specify title below)
Person (if an Entity) DECEMBER 1998 below)
- ----------------------------- (Voluntary) --------------------
(Street) 5. If Amendment, --------------------------------------
PRICE WATERHOUSE CENTRE Date of Original 7. Individual or Joint/Group
ST. MICHAEL BARBADOS WI (Month/Year) Filing (check applicable line)
__X__ Form filed by One Reporting Person
--- Form filed by More than One
Reporting Person
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(City) (State) (Zip) Table 1 - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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<S> <C> <C> <C> <C> <C> <C>
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: Direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ---------------------------------------------- Month Indirect Owner-
Year) Code V Amount (A) or Price (Instr. 3 (I) ship
(D) and 4) (Instr. 4) (Instr. 4)
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Common Stock 12/24/98 P 800 A 4.00 D
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Common Stock 12/24/98 P 5,000 A 4.062 D
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Common Stock 12/28/98 P 1,500 A 4.062 D
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Common Stock 12/31/98 J 10,000 A 310,449 D
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Preferred Class A Stock 1,500,000* D
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* If the Form is filed by more than one Reporting Person see Instruction
4(b)(v). Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
(Print or Type Response)
(Over)
SEC 1474 (7-96)
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FORM 4 (CONTINUED)
TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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_________________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1.Title of 2.Conver- 3.Trans- 4.Trans- 5.Number of 6.Date Exer- 7.Title and 8.Price of 9.Number of 5.Owner- 6.Nature
Deriv- sion or action action Derivative cisable and Amount of Deriv- Deriv- ship of Indi-
ative Exercise Date Code Securities Expiration Securities ative ative Form of rect
Security Price of (Month/ (Instr. 8) Acquired (A) Date (Month/ Underlying Security Secu- Deriv- Bene-
(Instr. 3) Deriv- Day/ or Disposed Day/Year) Securities (Instr. 5) rities ative ficial
ative Year) of (D) (Instr. 3 Bene- Security Owner-
Security (Instr. 3, and 4) ficially Direct ship
4 and 5) ___________________________________ Owned at (D) or (Instr. 4)
End of Indirect
Date Expi- Title Amount or Month (Instr. 4)
Exer- ration Number of (Instr. 4)
___________________________cisable Date Shares
Code V (A) (D)
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Explanation of Responses
*SHARES OF PREFERRED CLASS A STOCK ARE ENTITLED TO ONE HUNDRED VOTES FOR
EACH SHARE ON EACH MATTER TO COME BEFORE A MEETING OF THE SHAREHOLDERS OF
THE ISSUER.
ITEM 8. "J" RIF CAPITAL INC. RECEIVED 10,000 SHARES OF COMMON STOCK AS
COMPENSATION FOR LOAN AND ACCRUED INTEREST EXTENSION.
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<S> <C> <C>
/s/ James Knott January 11, 1998
_______________________________ ________________
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal JAMES KNOTT
Criminal Violations ON BEHALF OF RIF CAPITAL INC.
See 18U.S.C. 10001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, See Instruction 6 for procedure.
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