Taurasi, Carlo
- Proceeding
- BankruptcySubsection 170(1) of the Act
- File
- BK-25-00208813-OT31
Carlo Taurasi is the subject of active bankruptcy proceedings under the Bankruptcy and Insolvency Act in the Ontario Superior Court of Justice, in bankruptcy and insolvency, dating from October 22, 2025, on the application of KingSett Mortgage Corporation, with a trustee in bankruptcy appointed. Taurasi's sworn Statement of Affairs reports assets of $1,000, held in a bank account at Manulife Bank of Canada, against approximately $303,000,000 in unsecured claims. Those claims are dominated by guarantee liability for the debts of entities in receivership proceedings: Tarion Warranty Corporation at approximately $177,200,000, Toronto-Dominion Bank and MCO Management Inc. at approximately $37,500,000 each, and KingSett and Meridian Credit Union Ltd. at approximately $21,000,000 each. TD's claim is tied to an alleged cheque kiting scheme. Firm Capital Mortgage Fund Inc., Dorr Capital Corporation, KingSett, TD Bank and 797377 Ontario Inc. hold PPSA registrations against Taurasi.
Interim order granted; the bankruptcy proceedings against Taurasi, brought on KingSett Mortgage Corporation's application, date from this day.
Case update
Stateview Homes: the last property unsold, and two discharges opposed
Three years after its first offer deadline, Stateview's Stouffville land is still unsold; on August 6 the court let the receiver borrow up to $1 million ahead of the five mortgages on it. In the bankruptcies of the group's principals, Carlo and Dino Taurasi, the trustee has given notice it intends to oppose both discharges.
Debtor
Taurasi, Carlo
Trustee in bankruptcy
AlixPartners
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantKingSett Mortgage Corporation | Bennett Jones LLP | 22 Oct 2025 | Order · 22 Oct 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | 797377 Ontario Inc.PPSA registration — Registration date only; no balance stated — debtor: Carlo Taurasi · as of 9 Dec 2022 | — | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
10 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: no distribution.EstimatedTrustee's Preliminary Report to Creditors · 19 Nov 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | listed | no distributionconditional | Estimatedper the trustee | Trustee's Preliminary Report to Creditors · 19 Nov 2025 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
170 Report - Fully Executed
| PDF · Subscribers | |
| Form 80 - Opposition to Discharge | PDF · Subscribers | |
Trustee's Preliminary Report to Creditors dated November 19, 2025
| PDF · Subscribers | |
Notice of Bankruptcy and First Meeting of Creditors
| PDF · Subscribers | |
| Certificate of Appointment dated November 6, 2025 | PDF · Subscribers | |
Bankruptcy Order dated October 22, 2025
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Taurasi, Carlo” (Bankruptcy), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/taurasi-carlo