Hallmark Technologies Inc. And Affiliated Companies - October 11, 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 Hallmark Technologies Inc. and Affiliated Companies Registration  Number 392266.

 

TO:

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

Administrator

 

AND TO:

Bob Mohri
Hallmark Technologies Inc.
Vice President, Finance and CFO
2187 Huron Church Road
Box 7040
Windsor, ON
N9C 3Y6

Employer

 

AND TO:

Jan Oros
Analyst
Grant Thornton Limited
Royal Bank Plaza
19th Floor, South Tower
200 Bay Street, Box 55
Toronto, ON M5J 2P9

Trustee in Bankruptcy


NOTICE OF PROPOSAL

I PROPOSE TO MAKE AN ORDER under section 69 of the PBA  that the Pension Plan for the Employees of Hallmark Technologies Inc. and Affiliated Companies (the “Plan”) be wound up effective February 14, 2007, and include the class of Plan members whose employment or Plan membership ended during the period from October 6, 2006 to February 14, 2007.

 

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.

  • 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  11th  day of October, 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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