IN THE MATTER OF the Pension Benefits Act, R.S.O. 1990, c. P.8, (the “PBA”);
AND IN THE MATTER of a Notice of Intended Decision of the Superintendent of Financial Services to make an Order under section 69 of the PBA,respecting the Pension Plan for Executive Employees of Kraus Inc., Registration Number 0551580
Mercer (Canada) Limited
161 Bay Street
P.O. Box 501
Toronto ON M5J 2S5
Kraus Inc., Kraus Canada Inc. and Strudex Fibres Limited
60 Northfield Drive
Waterloo ON N2L 0A8
18 York Street, Suite 2600
Toronto ON M5J 0B2
Trustee in Bankruptcy
I INTEND TO MAKE AN ORDER under section 69 of the PBA that the Pension Plan for Executive Employees of Kraus Inc., Registration Number 0551580 (the “Plan”) be wound up effective May 28, 2012.
I INTEND TO MAKE THE ORDER FOR THE FOLLOWING 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 part of the business has been sold and the successor employer does not provide a pension planf or the employees acquired.
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 Intended Decision is served on you.1
YOUR WRITTEN NOTICE must be delivered to:
Financial Services Tribunal
5160 Yonge Street
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 INTENDED DECISION AS DESCRIBED IN THIS NOTICE.
DATED at Toronto, Ontario, this 19th day of November , 2012
Original Signed By
K. David Gordon
Deputy Superintendent, Pensions
1 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 fifth day after the date of mailing.
© Queen's Printer for Ontario, 2012