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Seagrams Hourly Pension Plan
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For more information you may send us an
e-mail or call us at 1-800-286-2266. |
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This page was updated August 29, 2007.
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Pour consulter le document en français
The Surplus Sharing Agreement was signed by Vivendi Universal and
Koskie Minsky LLP, on the behalf of the Surplus Sharing Group
members who retained Koskie Minsky LLP on May 3,
2006.
Quebec Members
With respect to the Quebec portion of the Hourly Plan, the Quebec pension
regulator ordered the wind-up of the Plan. This order triggered the process
provided under the Quebec pension legislation for the distribution of the
Quebec portion of the Hourly Plan assets to the Quebec members of the Sharing
Group. The Quebec process is now complete, and the distribution was made to the
Quebec Sharing Group members in September 2006. This does not, however, affect
the ultimate individual share of surplus that all members of the Sharing Group
are to receive under the Surplus Sharing Agreement. It simply means that Quebec
members received their share of surplus prior to non-Quebec members.
Non-Quebec Members
For the non-Quebec portion of the Hourly Plan, the process is quite different
due to the different provincial regulatory requirements. A court order
certifying the application as a class proceeding was issued on March 30, 2007.
To see a copy of this order, please click here. A court order approving the
surplus sharing arrangement was issued on August 20, 2007. To see a copy of
this order, please click
here. Vivendi Universal will now proceed to file an Application for
Surplus Withdrawal with the appropriate provincial pension regulators, upon
approval of which, the surplus can be distributed to the non-Quebec Sharing
Group members. For Sharing Group members residing in provinces other than
Quebec, we are hopeful for the surplus distribution to occur within early 2008,
once the necessary regulatory approvals are obtained.
Should you have any further questions or concerns, please contact our hotline
number 1-800-286-2266 or email us at
seagramshourly@kmlaw.ca and someone will return respond to your inquiry
as soon as possible.
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