Pension Plan for Hourly Employees of Amcan Castings Limited (Hamilton Division - January 29, 2009.

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 Pension Plan for Hourly Employees of Amcan Castings Limited (Hamilton Division) Registration Number 221465

TO:

Sharon Carew
Director
PricewaterhouseCoopers Inc.
1 Robert Speck Parkway, Suite 1100
Mississauga Executive Centre
Mississauga, ON L4Z 3M3

Administrator

AND TO:

Kirk Beauchamp
Vice President
Amcan Consolidated Technologies Corp.
10 Hillyard Street
Hamilton, ON L8L 6B1

Employer

AND TO:

A. John Page
President
A. John Page & Associates Inc.
100 Richmond Street West, Suite 447
Toronto, ON M5H 3K6

Trustee in Bankruptcy and Receiver

AND TO:

Frank Arcuri
President, Local 4153
United Steelworkers Union, Amalgamated Local 4153
1031 Barton Street East
Hamilton, ON L8L 3E3

Union Representative

 

ORDER

No request requiring a hearing was delivered to the Financial Services Tribunal within the time prescribed by subsection 89(6) of the PBA respecting a Notice of Proposal to make an Order to wind up the Pension Plan for Hourly Employees of Amcan Castings Limited (Hamilton Division) (the “Plan”).

IT IS THEREFORE ORDERED that the Plan be wound up in full effective October 25, 2007 for the following reasons:

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.

DATED at Toronto, Ontario, this 29th day of January, 2009.   

______________________________________________

Toni Mancini
Director, Pension Plans Branch  (Acting)
by Delegated Authority from
the Superintendent of Financial Services

           

                                                                                                                                               

 

 



 
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