| File Type: | Pension |
|---|---|
| File Number: | P0224-2003 |
| File Name: | Jane Parker Bakery Limited |
| Act: | Pension Benefits Act |
| Plan Name: | Jane Parker Bakery Limited Retirement Plan for Full-time Bargaining Employees, Registration No. 0400325 |
| Applicant: | The Great Atlantic & Pacific Company of Canada, Limited, Counsel: David Vincent, Ogilvey Renault LLP |
| Respondent: | Superintendent of Financial Services, Counsel: Mark Bailey |
| Party: |
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| Panel: |
Colin McNairn (Chair), David Short, Louis Erlichman Elizabeth Shilton (Settlement Conference) |
| Hearing Date Information: |
02/27/2007 (Hearing); 11/27/2006 (Settlement Conference) cancelled; 09/7/2006 (Pre-hearing Conference); 09/10/2003 (Pre-hearing Conference) - Adjourned |
| Next Appearance Date: |
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File Summary: (Go to latest update) |
On April 22, 2003, the Great Atlantic & Pacific Company of Canada, Limited, (the “Applicant”) requested a hearing regarding the Superintendent’s Notice of Proposal dated March 24, 2003, to refuse to consent to the application dated October 2, 2001, made by the Applicant, for payment out of the pension fund for the Jane Parker Bakery Limited Retirement Plan for Full-time Bargaining Employees, Registration Number 0400325 (the “Plan”), of an overpayment by the Applicant to the pension fund for the Plan. The overpayment arose as a result of the Applicant’s funding of a deficit in the Plan on wind up, which proved to be more than adequate to meet the deficit. The Superintendent maintains that the overpayment constitutes surplus in the Plan and can only be paid out to the Applicant in accordance with s.79 of the Pension Benefits Act. Updated to May, 31, 2006 On June 6, 2006, the Tribunal issued to the Applicant, a Notice of Intention to Dismiss the proceeding in accordance with Rule 37 of the Rules of Practice and Procedure for Proceedings Before the Financial Services Tribunal. On July 7, 2006 the Applicant responded to the Notice of Intention and a pre-hearing conference is scheduled for September 7, 2006. Updated to August 21, 2006 At the pre-hearing conference the parties agreed to participate in a further settlement conference on November 27, 2006, and a hearing date was also scheduled for February 27, 2007. Updated to October 6, 2006 On November 10, 2006 the parties advised that a settlement conference would not serve any useful purpose given each party’s position. The settlement conference scheduled for November 27, 2006 was cancelled and the matter will proceed to a hearing on February 27, 2007. Updated to January 10, 2007 The hearing took place on February 27, 2007. In its Majority Reasons dated March 27, 2007, the Tribunal ordered the Superintendent to refrain from carrying out the proposal contained in the Notice of Proposal. The Tribunal also ordered the Superintendent to extend the time limit for the Applicant making an application for the return of its overpayment and to allow that application. |
| Additional Notes: |
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