Pension Plan for Employees of Docap (1985) Corporation - July 21, 2008.

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 83 and 89 of the PBA, respecting the Pension Plan for Employees of Docap (1985) Corporation Registration Number 970095

TO:

Sharon Carew
Director
PricewaterhouseCoopers Inc.
Mississauga Executive Centre
One Robert Speck Parkway
Mississauga, ON L4Z 3M3

Administrator

AND TO:

Employees Benefits
1 Place Alexis Nihon, Suite 1501
3400 de Maisonneuve Ouest
Montreal PQ H3Z 3B8

Attention: Andre Cromp, Director
Ivaco Inc.

Employer

AND TO:

Francois Lemaire
Raymond Chabot Grant Thornton Suite 1900, National Bank Tower
600 De La Guachetiere Street West
Montreal, Quebec, H3B 4L8

Interim Receiver


DECLARATION

No request requiring a hearing was delivered to the Financial Services Tribunal within the time prescribed by subsection 89(6) of the PBA requesting a Notice of Proposal to make a Declaration that the Pension Benefits Guarantee Fund applies to Pension Plan for Employees of Docap (1985) Corporation (the “Plan”).

I DECLARE pursuant to sections 83 and 89 of the Act that the Pension Benefits Guarantee Fund (Guarantee Fund) applies to the Plan for the following reasons:

 

REASONS:

  1. The Plan is registered under the PBA, and

  2. The Plan provides defined benefits that are not exempt form the application of the Pension Benefits Guarantee Fund by the PBA or the Regulations made thereunder, and

  3. The plan was wound up effective September 30, 2007, and

  4. There are reasonable and probable grounds that the funding requirements of the PBA and regulations cannot be satisfied. Based on the latest actuarial certification, there is an estimated claim against the Guarantee Fund of $1,501,410 as at January 31, 2008.

 

DATED at Toronto, Ontario, this 21st day of July, 2008.

 

 

____________________________________

Toni Mancini 
Director, Pension Plans Branch
by Delegated Authority from  
the Superintendent of Financial Services      

 
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