MTW Hourly Pension Plan - August 23, 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 MTW Hourly Pension Plan, Registration Number 1067883.

TO:

Tony Karkheck
Senior Vice-President
PricewaterhouseCoopers Inc.
Mississauga Executive Centre
One Robert Speck Parkway, Suite 1100
Mississauga  ON 
L4Z 3M3

Administrator

 

AND TO:

Jeffrey Turner
Vice-President, Administration and General Counsel
Metal Technologies Woodstock Corporation
c/o Metal Technologies Inc.
1401 South Grandstaff Drive
Auburn, Indiana 
46706

Trustee in Bankruptcy

 

AND TO:

Tony Wolforth
National Representative
CAW Canada, Local 636
205 Placer Court
Toronto  ON 
M2H 3H9

Union Representative

 

NOTICE OF PROPOSAL

 

I PROPOSE TO MAKE AN ORDER under section 69 of the PBA that the MTW Hourly Pension Plan (the “Plan”) be wound up effective November 11, 2005 to September 30, 2006 inclusive.

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 xat 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  23rd day of August, 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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