This proceeding concerns the ownership of surplus upon partial wind-up of a pension plan.
BCE went through a number of sales, divestitures and downsizings in the 1990s which resulted in the termination of a significant number of employees. In connection with these divestitures and downsizings, BCE implemented three partial wind-ups of the Pension Plan. The three partial wind ups were effective December 31, 1993, October 15, 1996, and December 31, 1999.
As a result of the Supreme Court of Canada’s decision in “Monsanto”, BCE is required to deal with the distribution of surplus assets attributable to the Ontario portion of the three partial wind ups.