Vivendi Universal Inc. has filed an application with the Ontario Superior Court of Justice for a declaration that the Québec Supplementary Pension Plans Act does not compel Vivendi to transfer surplus on behalf of Québec members on an asset transfer to Diageo Canada Inc. The application also asks for a declaration that the PBA applies to the transfer.
The Régie des Rentes du Québec brought a motion to have Vivendi's application dismissed on jurisdictional grounds. The motion was heard by the Ontario Superior Court on March 2, 2005. The court reserved its decision. On April 5, 2005, the Court released its decision, dismissing the motion without prejudice to the Régie to raise the issue of mootness on the main application. On May 10, 2005, the Régie's appeal of this decision was heard and dismissed.
The application was heard on the merits on October 27 and 28, 2005.
In April 2006, Vivendi and Diageo advised that they had settled the issue of surplus to be transferred to Quebec. Vivendi therefore withdrew its application to the Court before any decision was released.
Updated on May 26, 2006