General Chemical Canada Limited - April 5, 2007

IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8, as amended (the “PBA”);

AND IN THE MATTER OF a Proposal of the Superintendent of Financial Services to make an Order under section 69 of the PBA, respecting the General Chemical Canada Limited Salaried Employees Pension Plan Registration Number 695205

 

 

TO:                        

Hamish Dunlop
Senior Consultant
Morneau Sobeco Limited Partnership
895 Don Mills Road, Suite 700
One Morneau Sobeco Centre
Toronto, ON M3C 1W3

 

Administrator

 

AND TO:              

H. Scott Ellis
Vice President and General Counsel
General Chemical Industrial Products
120 Eagle Rock Avenue
East Hanover, NJ
07936

 

Employer

 

AND TO:              

Stephen Funtig
Senior Manager, Financial Advisory
S. Funtig & Associates Inc.
484 Pellissier St.
Suite 200
Windsor, ON N9A 4K9

 

Trustee in Bankruptcy

 

 

AND TO:              

Michelle Middlemore
Vice President, Advisory Services
PricewaterhouseCoopers Inc.
Suite 2500, Box 82
Royal Trust Tower TD Centre
Toronto, ON M5G 1G8

 

Receiver

 

 

NOTICE OF PROPOSAL

 

I PROPOSE TO MAKE AN ORDER under section 69 of the PBA that General Chemical Canada Limited Salaried Employees Pension Plan (the “Plan”) be wound up effective November 18, 2005 and include the class of employees whose employment or Plan membership terminated during the period of January 19, 2005 to November 18, 2005.

 

REASONS:

 

There was a cessation or suspension of employer contributions to the pension fund.

 

The employer failed to make contributions to the pension fund as required by the PBA.

 

The employer is bankrupt within the meaning of the Bankruptcy and Insolvency Act (Canada).

 

A significant number of members of the pension plan ceased to be employed by the employer as a result of the discontinuance of all or part of the business of the employer or as a result of the reorganization of the business of the employer.

 

All or a significant portion of the business carried on by the employer at a specific location was discontinued.

Such further and other  reasons as may come to my attention.

 

YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the Tribunal) pursuant to section 89(6) of the PBA.  To request a hearing, you must deliver to the Tribunal a written notice that you require a hearing, within thirty (30) days after this Notice of Proposal is served on you. *

 

YOUR WRITTEN NOTICE must be delivered to:          

Financial Services Tribunal
5160 Yonge Street
14th Floor
Toronto, Ontario
M2N 6L9

 

Attention: The Registrar

 

FOR FURTHER INFORMATION on a Form for the written notice, please see the Tribunal website at www.fstontario.ca or contact the Registrar of the Tribunal by phone  at

416- 590-7294,  toll free at 1-800-668-0128, ext. 7294, or by fax at 416-226-7750.

 

IF YOU FAIL TO REQUEST A HEARING WITHIN THIRTY (30) DAYS, I MAY CARRY OUT THE PROPOSAL AS DESCRIBED IN THIS NOTICE.

 

 

DATED at Toronto, Ontario, this 5th day of April, 2007.   

 

________________________________
K. David Gordon
Deputy Superintendent, Pensions

 

*   NOTE - Pursuant to section 112 of the PBA any Notice, Order or other document is sufficiently given, served or delivered if delivered personally or sent by regular mail and any document sent by regular mail shall be deemed to be given, served or delivered on the seventh day after the date of mailing.


 
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