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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950150-97-001699.txt : 19971118
<SEC-HEADER>0000950150-97-001699.hdr.sgml : 19971118
ACCESSION NUMBER:		0000950150-97-001699
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19971117
SROS:			NONE
GROUP MEMBERS:		KLETZ SELWYN
GROUP MEMBERS:		SELWYN J.KLETZ

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERUNION FINANCIAL CORP
		CENTRAL INDEX KEY:			0000924805
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159]
		IRS NUMBER:				870520294
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		
		SEC FILE NUMBER:	005-51933
		FILM NUMBER:		97723121

	BUSINESS ADDRESS:	
		STREET 1:		249 ROYAL PALM WAY
		STREET 2:		STE 301H
		CITY:			PALM BEACH
		STATE:			FL
		ZIP:			33480
		BUSINESS PHONE:		4078200084

	MAIL ADDRESS:	
		STREET 1:		249 ROYAL PALM WAY
		STREET 2:		STE 301H
		CITY:			PALM BEACHF
		STATE:			FL
		ZIP:			33480

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KLETZ SELWYN
		CENTRAL INDEX KEY:			0001041074
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			C8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		499 RIVERSIDE DR
		CITY:			TORONTO
		STATE:			A6
		ZIP:			00000
		BUSINESS PHONE:		4169550777

	MAIL ADDRESS:	
		STREET 1:		499 RIVERSIDE DR
		CITY:			TORONTO
		STATE:			A6
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<DESCRIPTION>SCHEDULE SC 13D
<TEXT>

<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).

<PAGE>   2


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
         ________________________________________________
<PAGE>   3

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



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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