Pension Plan Mergers - A Ray of Hope?
Date:
March 1 2005
The recent Ontario Divisional Court decision, Baxter v. Ontario Superintendent of Financial Services (“Baxter”), if followed by other courts, may provide relief from the paralysis that affects plan mergers in most jurisdictions in Canada, apart from Québec. The case itself deals with relatively narrow issues but the comments of the court provide some encouragement after a series of cases that have applied strict trust law principles so as to make plan mergers practically impossible in most instances.
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