Stanley Canada Inc v. Ontario (Superintendent of Financial Services)

FST File No.: P0170-2001

Date of decision: November 19, 2002
May 22, 2002

Panel members: Martha Milczynski, Chair, Kathryn Bush, David Short

Parties to hearing: Stanley Canada Inc.
The Superintendent of Financial Services

ISSUE: SURPLUS ENTITLEMENT

Summary:

This was a hearing requested by Stanley Canada Inc, in relation to a Notice of Proposal issued by the Superintendent to refuse to consent to the application for payment of surplus to Stanley Canada Inc.

The Tribunal makes the following Order to adopt and approve the Minutes of Settlement:

1. That the Superintendent is directed to refrain from carrying out the Notice of Proposal to
Refuse to Consent to the payment of surplus to the Applicant;

2. We direct the payment of the surplus to the Applicant, subject to the interest payments
referred to in paragraph 1(e) of the Minutes of Settlement, in accordance with the terms and
provisions of the Surplus Distribution Agreement.


This summary is offered as a public service and should not be relied upon as legal advice. Many factors unknown to us may affect the applicability of any statement or comment made in the summary to your particular circumstances.

Stanley Canada Inc c. l’Ontario (Surintendant des services financiers)

No de dossier du TSF : P0170-2001

Date des décisions : Le 19 novembre 2002
Le 22 mai 2002

Groupe d’experts : Martha Milczynski, présidente, Kathryn Bush, David Short

Parties B l’audience : Stanley Canada Inc.
Surintendant des services financiers

QUESTION : ADMISSIBILITÉ A L’EXCÉDENT

Sommaire :

Stanley Canada Inc. a réclamé la tenue d’une audience sur un avis d’intention du Surintendant de refuser de consentir B la demande de versement d’excédent B Stanley Canada Inc.

Le Tribunal rend l’ordonnance suivante concernant l’adoption et l’approbation du procPs-verbal de transaction :