Servifood Ltd. Pension Plan - January 4, 2006

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

AND IN THE MATTER of a Proposal of the Superintendent of Financial Services to make an Order under section 69 of the Act, respecting the Servifood Ltd. Pension Plan (the Plan), Registration Number 684225.

TO:

David R. Kearney
Principal
Morneau Sobeco
895 Don Mills Road, Suite 700
1 Morneau Sobeco Centre
Toronto, ON M3C 1W3

Administrator


AND TO:

Real Morin
President
Servifood Ltd.
180 blvd. Rene Levesque Est
Suite 408
Montreal, Quebec H2X 1N6

Employer

AND TO:

Ronald P. Gagnon, LL.B.
Senior Manager, Financial Advisory
Samson Belair/Deloitte & Touche Inc.
1111 rue St.-Charles Ouest Bureau 550 - Tour Est
Longueuil, Quebec J4K 5G4

Trustee in Bankruptcy


AND TO:

Charlie Renaud
Service Employees International Union (Local 204)
2180 Steeles Avenue W. , Suite 200
Concord, ON L4K 2Z5

Union Representative

NOTICE OF PROPOSAL TO MAKE AN ORDER

I PROPOSE TO MAKE AN ORDER under section 69 of the Act that the Plan be wound up effective April 16, 2004 for the following reasons and such further reasons that may come to my attention.

The wind up is to include the class of Plan members whose employment or Plan membership terminated during the period September 30, 1999 to April 16, 2004.

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 this Act.

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.

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

Your written notice requiring a hearing must be delivered to:
Financial Services Tribunal
5160 Yonge Street, 14th Floor
North York ON M2N 6L9

Attention: The Registrar

FOR FURTHER INFORMATION, contact the Registrar of the Tribunal by phone at 416-226-7752, toll-free at 1-800-668-0128, ext. 7752, or by fax at 416-226-7750.

IF YOU DO NOT DELIVER TO THE TRIBUNAL, WITHIN THIRTY (30) DAYS FROM THE DATE THIS NOTICE OF PROPOSAL IS SERVED ON YOU, A WRITTEN NOTICE THAT YOU REQUIRE A HEARING, I MAY MAKE THE ORDER PROPOSED HEREIN.

DATED at Toronto, Ontario, this 4th day of January, 2006.

K. David Gordon
Deputy Superintendent, Pensions

*NOTE—PURSUANT to section 112 of the Act any notice, order or other document is sufficiently given, served, or delivered if delivered personally or sent by first class mail and any document sent by first class mail shall be deemed to be given, served, or delivered on the seventh day after mailing.

 
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