As a result of the resolution of certain outstanding tax matters OTS has with the Canada Revenue Agency (CRA), the amount of surplus funds remaining once all liabilities associated with wind-up have been settled will be more significant than contemplated at the time of writing the Wind-Up Plan. On April 2nd, 2019 OTS was directed by Minister Philips to revise the approach to managing these surplus funds to return them to tire consumers.
You can read the Minister’s Direction Letter here and the OTS reply here.
OTS recently hosted group consultation sessions. Materials and recordings of these sessions may be accessed here.
