IN THE MATTER of the Pension Benefits Act, R.S.O. 1990, c. P.8, as amended (the Act);
AND IN THE MATTER of a Proposal of the Superintendent of Financial Services to make an Order under section 69 of the Act, respecting the Decor Products International, a Division of Kleco Corporation Hourly Pension Plan (the “Plan”) Registration Number 0696864.
David R. Kearney
Morneau Sobeco Limited Partnership
895 Don Mills road, Suite 700
One Morneau Sobeco Centre
Toronto, ON M3C 1W3
Decor Products International, a Division of Kleco Corporation
140 Bay Street
Midland, ON M5H 3T4
RSM Richter Inc.
200 King Street West
Toronto, ON M5H 3T4
Trustee in Bankruptcy
The National Automobile, Aerospace and Agricultural Implement Workers of Canada (CAW-Canada) Local 1411
Midland, ON L4R 4L3
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 Plan.
IT IS THEREFORE ORDERED that the Plan be wound up in full effective March 8, 2005 and include the class of members whose employment or membership terminated during the period of February 11, 2005 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 this Act.
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.
DATED at Toronto, Ontario, this 31st day of March, 2006.
Director, Pension Plans Branch
by Delegated Authority from
the Superintendent of Financial Services