Pension Plan for Slater Stainless Corp. Members of the United Steelworkers of America (Local 7777) - January 26, 2006

IN THE MATTER of the Pension Benefits Act, R.S.O. 1990, c. P.8, as amended (the Act);

AND IN THE MATTER of a Proposal of the Superintendent of Financial Services to make an Order under section 69 of the Act, respecting the Pension Plan for Slater Stainless Corp. Members of the United Steelworkers of America (Local 7777) (the “Plan”) Registration Number 0561464.


TO:

David Kearney
Principal
Morneau Sobeco Limited Partnership
895 Don Mills Road, Suite 700
One Morneau Sobeco Centre
Toronto ON M3C 1W3

Administrator

AND TO:

Paul Davis
Vice President
Slater Stainless Corp.
Markborough Place
6711 Mississauga Road, Ste. 202
Mississauga ON L5N 2W3

Employer

AND TO:

Jeff Rosenberg
PricewaterhouseCoopers Inc.
145 King Street West
Toronto ON M5H 1V8

Receiver

AND TO:

Ron Mattie
Local President
United Steelworkers of America, Local 7777
234 Eglinton Avenue East
Suite 800
Toronto ON M4P 1K7

Union Representative


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 Plan.

IT IS THEREFORE ORDERED that the Plan be wound up in full effective May 26, 2004 and include the class of members whose employment or membership terminated during the period of February 15, 2002 and May 26, 2004 for the following reasons and such further reasons that may come to my attention:


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 this Act.

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 26th day of January, 2006.

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

 
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