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 Lamco International Die Cast Inc. Registration Number 425959
London Life Insurance Company
255 Dufferin Avenue
London, ON N6A 4K1
Lamco International Die Cast Inc.
100 Wellington Street North
PO Box 37
Throrold, ON L2V 3Y7
21 King Street West, Suite 510
Hamilton, ON L8N 3R1
Trustee in Bankruptcy
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 Lamco International Die Cast Inc. (the “Plan”).
IT IS THEREFORE ORDERED that the Plan be wound up in full effective February 28, 2006 for the following reasons:
- 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 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 or a significant portion of the business carried on by the employer at a specific location was discontinued.
DATED at Toronto, Ontario, this 28th day of May, 2007
Director, Pension Plans Branch
by Delegated Authority from the Superintendent of Financial Services