Gummed Papers Limited - June 21, 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 Gummed Papers Limited Registration Number 245680

 

 

TO:                        

Lisa Horton
Wind-up Customer Services Specialist
London Life Insurance Co.
255 Dufferin Avenue
London, ON N6A 4K1

 

Administrator

 

AND TO:              

Gail Obuhowich
Administrator
Gummed Papers Limited
12 Henderson Ave.
Brampton, ON N6Y 2A5

 

Employer

 

AND TO:              

Juergen Manski
BDO Dunwoody Limited
1 City Centre Drive
Suite 1040
Mississauga, ON L5B 1M2

 

Receiver

 

NOTICE OF PROPOSAL

 

I PROPOSE TO MAKE AN ORDER under section 69 of the PBA that Pension Plan for the Employees of Gummed Papers Limited (the “Plan”) be wound up effective January 31, 2007

       

REASONS:

 

  • 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.

 

  • Such further and other reasons as may come to my attention.

 

YOU ARE ENTITLED TO A HEARING by the Financial Services Tribunal (the Tribunal) pursuant to section 89(6) of the PBA.  To request a hearing, you must deliver to the Tribunal a written notice that you require a hearing, within thirty (30) days after this Notice of Proposal is served on you.*

 

YOUR WRITTEN NOTICE must be delivered to:     

Financial Services Tribunal
5160 Yonge Street
14th Floor
Toronto, Ontario
M2N 6L9

 

Attention: The Registrar

 

FOR FURTHER INFORMATION on a Form for the written notice, please see the Tribunal website at www.fstontario.ca or contact the Registrar of the Tribunal by phone at 416- 590-7294,  toll free at 1-800-668-0128, ext. 7294, or by fax at 416-226-7750.

 

IF YOU FAIL TO REQUEST A HEARING WITHIN THIRTY (30) DAYS, I MAY CARRY OUT THE PROPOSAL AS DESCRIBED IN THIS NOTICE.

 

 

DATED at Toronto, Ontario, this 21st day of June, 2007.                

 

 

________________________________
K. David Gordon
Deputy Superintendent, Pensions                                                                         

 

 

 

 

*  NOTE - Pursuant to section 112 of the PBA any Notice, Order or other document is sufficiently given, served or delivered if delivered personally or sent by regular mail and any document sent by regular mail shall be deemed to be given, served or delivered on the seventh day after the date of mailing.


 
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