Famous Players Limited - July 20, 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 by the Superintendent of Financial Services to make an Order under section 78(1) of the PBA consenting to a payment out of the Retirement Plan for Salaried Employees of Famous Players Limited and Subsidiary                     and Affiliated Companies, Registration Number 0552752.

 

 

TO:                

CBS Pictures Canada Inc. (formerly Paramount Pictures (Canada) Inc.)                     1515 Broadway Avenue, 45th Floor
New York, NY  10036
USA

 

Attention: 

Ms. Betty Panarella
 Vice President Development & Pension Benefits

 

 

ORDER

ON or about December 21, 2006, CBS Pictures Canada Inc. (formerly Paramount Pictures (Canada) Inc.) (the “Applicant”) applied to the Superintendent of Financial Services (the “Superintendent”) for consent to the payment of surplus in the amount of $18,423,400 as at September 30, 2006 plus adjustment for interest and expenses to the actual date of payment (the “Application”), from the Retirement Plan for Salaried Employees of Famous Players Limited and Subsidiary and Affiliated Companies (the “Plan”), Registration Number 0552752.

 

ON OR ABOUT March 30, 2007, the Superintendent issued a Notice of Proposal to consent to the application under section 78(1) of the PBA, effective only after the Applicant had satisfied the Superintendent that all benefits and any other payments to which members, former members, and any other persons entitled to such payments had been paid, purchased, or otherwise provided for.

 

NO REQUEST FOR A HEARING has been filed with the Financial Services Tribunal with respect to the Notice of Proposal by the Applicant or any other party within the time prescribed by section 89(6) of the PBA.

 

I, THEREFORE, for the reasons set out in the Notice of Proposal, consent to the payment from the Plan to the Applicant the amount of $18,423,400 as at September 30, 2006, plus adjustment for interest and expenses to the actual date of payment.

 

THIS CONSENT IS EFFECTIVE ONLY AFTER the applicant satisfies me that all benefits and any other payments to which members, former members, and any other persons entitled to such payments have been paid, purchased, or otherwise provided for.

 

DATED at Toronto, Ontario, this 20th day of  July, 2007.

 

 

____________________
K. David Gordon
Deputy Superintendent, Pensions

 

 

cc:       

Blake, Cassels & Graydon LLP
Barristers & Solicitors
199 Bay Street, Box 25
Commerce Court West, Suite 2500
Toronto, Ontario
M5L 1A9        

 

Attention: 

J.A. Prestage
Solicitors for the Applicant
Koskie Minsky LLP
Barristers & Solicitors
20 Queen Street West, Suite 900
Box 52
Toronto, Ontario
M5H 3R3

 

Attention: 

Ari Kaplan
Solicitors for Members


 
Follow FSCO on social media  

Outage  Scheduled Online Service Disruption Notice
Please consult our outage schedule for more details.