Quetico Centre - July 27, 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 of the Superintendent of Financial Services to make an Order under section 69 of the PBA, respecting the Pension Plan for the Employees of Quetico Centre  Registration Number 1121243.

 

 

TO:                  

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

 

Administrator    

 

 

AND TO:          

Ann Ralph
Administrator
Quetico Centre
P.O. Box 1000
Atikokan, ON P0T 1C0

 

Employer

 

AND TO:          

David O’Brien
President
2096970 Ontario Ltd.
185 Chercover Drive
Thunder Bay, ON P7G 1A6

 

Receiver

 

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 the Employees of Quetico Centre (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.

 

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 27th  day of   July, 2007      

 

 

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

 
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