Lamco International Die Cast Inc. - May 28, 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 Lamco International Die Cast Inc.  Registration Number 425959

TO:                        

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

Administrator        

 

AND TO:           

Pamela Poulin
Office Manager
Lamco International Die Cast Inc.
100 Wellington Street North
PO Box 37
Throrold, ON L2V 3Y7

Employer

AND TO:    

Brad Newton
KPMG Inc.
Box 976
21 King Street West, Suite 510
Hamilton, ON L8N 3R1

Trustee in Bankruptcy

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 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   

 

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