| File Type: | Pensions |
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| File Number: | P0085-1999 |
| File Name: | Schering Plough HealthCare |
| Act: | Pension Benefits Act |
| Plan Name: | Schering-Plough HealthCare Products Canada Inc. Salaried Employees' Pension Plan, Registration Number 297903 |
| Applicant: | Schering-Plough HealthCare Products Canada Inc., Counsel: Ms. Kathy Bush, Blake Cassels & Graydon |
| Respondent: | Superintendent of Financial Services - Counsel: Deborah McPhail |
| Party: | A number of affected plan members - Counsel: Ms. Peggy McCallum, Fasken Martineau Dumoulin LLP |
| Panel: | L. Harmer (Chair), D. Short, S. Bharmal |
| Hearing Date Information: |
01/09/2006 - 01/10/2006 (hearing - concluded 01/09/2006); 01/05/2006 (pre-hearing cont'd by teleconference); 12/20/2005 & 12/21/2005 (pre-hearing cont'd by teleconference); 09/27/2005 (pre-hearing conference); 03/30/2005 (teleconference-adjourned);12/15/2004 (PHC adjourned) |
| Next Appearance Date: |
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File Summary: (Go to latest update) |
On November 10, 1999, Schering-Plough Healthcare Products Canada Inc. filed a request for hearing regarding the Superintendent’s Notice of Proposal dated October 14, 1999, ordering Schering-Plough Healthcare Products Canada Inc. to amend the partial wind up report with respect to its salaried pension plan as at August 31, 1996, so that provision is made for the distribution of the surplus attributable to the partial wind up group. On March 27, 2000, Ken Reynolds, Michel Gariepy, Edward Taylor and Jim Wilson, being some of the members of the partial wind up group, filed an application for party status. The matter was adjourned sine die on May 10, 2000 pending the outcome of the Monsanto case. On July 29, 2004, the Supreme Court of Canada released its decision in the Monsanto case. On September 2, 2004, the Superintendent requested that a pre-hearing conference be scheduled. The pre-hearing conference scheduled on December 15, 2004, was adjourned on consent of the parties and rescheduled for March 30, 2005. On March 10, 2005, the parties advised that a revised partial wind up report was filed with the Superintendent and requested that the pre-hearing conference, rescheduled for March 30, 2005, be adjourned pending the issue of an amended notice of proposal. On March 14, 2005, the matter was adjourned sine die. On June 3, 2005, the Superintendent requested that the matter be brought back on for a pre-hearing conference. At the pre-hearing conference on September 27, 2005 full party status was granted to the Estate of Ken Reynolds, Michel Gariepy, Edward Taylor and Jim Wilson. On January 9, 2006 the Tribunal heard oral arguments from the parties. In its Reasons for Decision dated April 12, 2006, the Tribunal upheld the Superintendent’s Notice of Proposal. |
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