Need to Know
On September 9, 2011, the Quebec Superior Court allowed an application for judicial review of Synertech Moulded Products, Division of Old Castle Building (« Synertech ») and quashed two judgments rendered by the Economic Affairs Section of the Tribunal administratif du Québec (Quebec Administrative Tribunal) (The “TAQ”).
In 2009, the Régie des rentes du Québec (the « Régie ») refused to register and authorize the Amendments on the grounds that they significantly and retroactively reduced the vested rights of plan members Bérard and Pons in such a manner as to eliminate any deficit under the Bérard Plan and Pons Plan. In the opinion of the Régie, the Amendments contravened the objectives of the Supplemental Pension Plans Act (the « SPPA») relating to the protection of pension plan members’ rights (protection sanctioned in particular in section 228 of the SPPA). Synertech challenged the Régie’s decisions before the TAQ.