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 D'Orlan Jewellers Company Registration Number 449512.
Wind-up Customer Service Specialist
London Life Insurance Company
255 Dufferin Avenue
London, ON N6A 4K1
D'Orlan Jewellers Company
195 Old Weston Road
Toronto, ON M6N 3A5
Shimmerman Penn Title & Associates Inc.
30 St. Clair Avenue West, Suite 400
Toronto, ON M4V 3A1
Trustee in Bankruptcy
NO request requiring a hearing was delivered to the Financial Services Tribunal within the time prescribed by subsection 89(6) of the Act respecting a Notice of Proposal to make an Order to wind up the Pension Plan for the Employees of D'Orlan Jewellers Company (the “Plan”).
IT IS THEREFORE ORDERED that the Plan be wound up in full effective January 31, 2006 for the following reasons:
There is a cessation or suspension of employer contributions to the pension fund.
The employer fails 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.
DATED at Toronto, Ontario, this 21 day of December 2006.
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services