J.F. Gillanders Co. Limited - March 2, 2007

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

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 Pension Plan for the Employees of J.F. Gillanders Co. Limited Registration Number 350819

TO:                

Deborah Thomson
Wind-up Training Specialist
London Life Insurance Co.
255 Dufferin Avenue
London, ON N6A 4K1

Administrator

AND TO:      

Momen Rahman
Administrator
J.F. Gillanders Co. Limited
33 Atomic Avenue
Toronto, ON M8Z 5K8

Employer

AND TO:      

Gary Lifman
C.A., CIRP
A. Farber & Partners Inc.
1200 Sheppard Avenue East, Suite 300
North York, ON M2K 2R8

Trustee in Bankruptcy

I PROPOSE TO MAKE AN ORDER under section 69 of the PBA that Pension Plan for the Employees of J.F. Gillanders Co. Limited (the APlan@) be wound up effective August 25, 2004

REASONS:

1. There was a cessation or suspension of employer contributions to the pension fund.
   
   
2. The employer failed to make contributions to the pension fund as required by the PBA.
   
   
3. The employer is bankrupt within the meaning of the Bankruptcy and Insolvency Act (Canada).
   
   
4. All or a significant portion of the business carried on by the employer at a specific  location was discontinued.
   
   
5. 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 2nd day of March 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.