Canefco Limited - Aug. 18, 2006

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 the Employees of Canefco Limited Registration Number 0232710

TO:

Darlene Sundercock
Wind-up Customer Service Specialist
London Life Insurance Company
255 Dufferin Avenue
London, ON N6A 4K1

Administrator

AND TO:

Michelle Henderson
Administrator
Canefco Limited
445 Apple Creek Blvd.
Suite 201,
Markham, ON L3R 9X7

Employer

AND TO:

Hartley Bricks
Vice-President
Mintz and Partners Ltd.
1 Concorde Gate, Suite 200
North York, ON M3C 4G4

Trustee in Bankruptcy

ORDER

NO request requiring a hearing was delivered to the Financial Services Tribunal within the time prescribed by subsection 89(6) of the Act respecting a Notice of Proposal to make an Order to wind up the Pension Plan for the Employees of Canefco Limited (the “Plan”).

IT IS THEREFORE ORDERED that the Plan be wound up in full effective February 28, 2006 for the following reasons:

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

The employer fails 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 significant part of the business has been discontinued at a specific location.

DATED at Toronto, Ontario, this 18th day of August, 2006

Tom Golfetto
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services

 
 

 
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