Ivaco Inc. - Financial Services Tribunal Hearing

File Type:	Pension
File Number:	P0273-2006
File Name:	Ivaco Inc.
Act:	Pension Benefits Act
Plan Name:	Pension Plan for Salaried Employees of Ivaco Inc. and Participating Subsidiary Companies, Registration No. 0410357
Applicant:	Ivaco Inc. through its Monitor Ernst & Young Inc. in its capacity as Monitor, Counsel: Gary Nachshen, Stikeman Elliott
Respondent:	Superintendent of Financial Services, Counsel: Mark Bailey
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File Summary: (Go to latest update)	On April 26, 2006, Ivaco Inc. through its monitor Ernst & Young Inc. (the “Applicant”) requested a hearing regarding the Notice of Proposal of the Deputy Superintendent, Pensions, dated March 27, 2006, proposing to make a declaration under s.83 of the Pension Benefits Act (the “Act”) that the Pension Benefits Guarantee Fund applies to the Plan for the following reasons: The Plan is registered under Quebec’s Supplemental Pension Plans Act, a designated province stipulated under s.1 of the Act, The Plan provides defined benefits that are not exempt from the application of the Pension Benefits Guarantee Fund by the Act or the Regulations made thereunder, The Plan was wound up effective December 1, 2004, and There are reasonable and probable grounds that the funding requirements of the Act and Regulations cannot be satisfied. This matter stands adjourned due to a stay of proceedings by order of the Ontario Superior Court of Justice issued pursuant to the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36. *Updated to May 31, 2007* On February 28, 2007, the Applicant withdrew the Request for Hearing. *Updated to* *April 2, 2007* Top of Summary
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