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- Title
The Decision in Imperial Oil Limited--Implications for Partial Wind-Ups.
- Authors
Deokiesingh, Alana
- Abstract
The article discusses a court case involving Imperial Oil Limited and the Superintendent of Financial Services wherein the Ontario Financial Services Tribunal held that pensions are delivered in the form of annuities in a full wind-up situation. The tribunal found that Imperial Oil is not mandated to annuitize the affected members' benefits, contrary to the argument of the Financial Services Commission of Ontario that the benefits could be provided via the portion of the plan. However, partial wind-ups could be eliminated by Bill 236 as a result.
- Subjects
ACTIONS &; defenses (Law); IMPERIAL Oil Ltd.; LIQUIDATION; ONTARIO. Financial Services Commission; ADMINISTRATIVE courts
- Publication
Canadian Benefits & Compensation Digest, 2010, Vol 28, Issue 3, p5
- ISSN
1552-4744
- Publication type
Article