Case In Point
Indalex Pension Decision to be Rendered Friday
Date: January 29, 2013
On Friday, February 1, 2013, the Supreme Court of Canada will be rendering its decision in Sun Indalex Finance, LLC et al. v. United Steelworkers et al. The appeal relates to an April 2011 decision of the Ontario Court of Appeal which granted “super-priority” to pension funding deficits in a Companies’ Creditors Arrangement Act proceeding. A detailed discussion of the Court of Appeal decision is found in our FTR Now of April 15, 2011,”Ontario Court of Appeal Revisits Pension and Insolvency Principles: Indalex.”
Hicks Morley’s Pension and Benefits Group’s review of the decision is now available in an FTR Now dated February 4, 2013, “Supreme Court of Canada Weighs in on Plan Deficits and the Fiduciary Duty of Pension Plan Administrators in an Insolvency: Sun Indalex Finance, LLC v. United Steelworkers.”
