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 the Employees of Tandem Fabrics Inc. (the Plan) Registration Number 466151.
Wind-up Customer Service Specialist
London Life Insurance Company
255 Dufferin Avenue
London, ON N6A 4K1
Tandem Fabrics Inc.
170 Mill Road, NB E1A 4B1
Mathew J. Munro
P.O. Box. 789
44 Chipman Hill, Suite 300
Saint John, NB E2L 4B9
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 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 July 8, 2005 for the following reasons:
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.
The employer is bankrupt within the meaning of the Bankruptcy and Insolvency Act (Canada).
DATED at Toronto, Ontario, this 7th day of March, 2006.
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services