Indalex Limited - June 12, 2006

IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8 (the “PBA”);

AND IN THE MATTER OF a Proposal by the Superintendent of Financial Services to make an Order under section 78(4) of the PBA consenting to a payment out of the Retirement plan for Salaried Employees of Indalex Limited and Associated Companies (the Plan), Registration Number 0533646.

TO:

Wesley Ross
Indalex Limited
706 South State Street
Girard OH 44420

ORDER

NO Notice requiring a hearing was delivered to the Financial Services Tribunal by the Applicant or any other party within the time prescribed by section 89(6) of the PBA.

IT IS THEREFORE ORDERED to consent to the payment, out of the Plan, to Indalex Limited, as at October 18, 2005 in the amount of $456,166 plus interest to the date of payment for the following reasons:

  1. Indalex Limited is the employer as defined in the Plan.

  2. As a result of an administrative error on the part of Indalex Limited, the 2005 Contribution for the Retirement Plan for the Executive Employees of Indalex Limited and Associated Companies was deposited into the pension fund of the Plan.

  3. Evidence of the overpayment to the fund has been submitted to the Financial Services Commission of Ontario.

  4. The application appears to comply with section 78(4) of the PBA.

DATED at Toronto, Ontario, this 12th day of June, 2006

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


 
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