Sears Canada Inc., December 6, 2017
December 6, 2017
NoID issued by FSCO to Wind Up the Sears Pension Plan
On November 10, 2017, the Financial Services Commission of Ontario (“FSCO”) issued a Notice of Intended Decision (“NoID”) to wind up the Sears Canada Plan, effective October 1, 2017. It can be viewed here. Absent any objections to the NoID, we expect that the Superintendent will proceed to issue the formal order for the pension plan wind up. Once the order is made, we expect to withdraw our Wind Up Motion, which can be viewed here.