Taurasi, Carlo
Follow- 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.
Court officer's report filed, recording that the Court in Bankruptcy and Insolvency had issued an order against Taurasi on October 10, 2025.
Source: Trustee's Preliminary Report to Creditors dated November 19, 2025
Debtor
Taurasi, Carlo
Trustee in bankruptcy
AlixPartners
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Firm Capital Mortgage Fund Inc. · in 10 casesPPSA registrations (2), dates July 20, 2022 and December 15, 2022 — Amount not stated — debtor: Carlo Taurasi | — | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 4 | Secured | Dorr Capital Corporation · in 3 casesPPSA registrations (6), dates ranging October 16, 2021 to December 7, 2022 — Multiple blanket registrations; amount not stated — debtor: Carlo Taurasi | — | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 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 | KingSett Mortgage Corporation · in 28 casesPPSA registration — Registration date only; no balance stated; also filed bankruptcy application against CT and is a major unsecured creditor for guarantee claim — debtor: Carlo Taurasi · as of 20 Dec 2021 | — | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 4 | Secured | TD Bank · in 29 casesPPSA registration — Registration date only; no balance stated; also listed as major unsecured creditor for guarantee claim — debtor: Carlo Taurasi · as of 16 Jan 2017 | — | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesas of Statement of Affairs — Total approximate unsecured claims per sworn Statement of Affairs; the five named creditors above are the major creditors within this total, remaining creditors not individually named — debtor: Carlo Taurasi | $303M | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 8 | Unsecured | Tarion Warranty Corporation · in 6 casesas of Statement of Affairs — Guarantee liability re debts of entities in Receivership Proceedings; approximate figure — debtor: Carlo Taurasi | $177M | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 8 | Unsecured | MCO Management Inc. · in 2 casesas of Statement of Affairs — Guarantee liability re debts of entities in Receivership Proceedings; approximate figure — debtor: Carlo Taurasi | $37.5M | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 8 | Unsecured | Toronto-Dominion Bank · in 48 casesas of Statement of Affairs — Guarantee liability re debts of entities in Receivership Proceedings; also holds PPSA registration; approximate figure; related to alleged cheque kiting scheme loss to TD — debtor: Carlo Taurasi | $37.5M | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 8 | Unsecured | Meridian Credit Union Ltd. · in 4 casesas of Statement of Affairs — Guarantee liability re debts of entities in Receivership Proceedings; approximate figure — debtor: Carlo Taurasi | $21M | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
| 8 | Unsecured | KingSett Mortgage Corporation · in 28 casesas of Statement of Affairs — Guarantee liability re debts of entities in Receivership Proceedings; approximate figure; also holds PPSA registration — debtor: Carlo Taurasi | $21M | Trustee's Preliminary Report to Creditors dated November 19, 2025 |
“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 | — | $303Mlisted | 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.
per Sworn Statement of Affairs · Individual debtor (Carlo Taurasi) only — Assets consist of $1,000 in a bank account at Manulife Bank of Canada; liabilities approximate per Statement of Affairs
| Date | Document | File |
|---|---|---|
170 Report - Fully Executed
| ||
| Form 80 - Opposition to Discharge | ||
Trustee's Preliminary Report to Creditors dated November 19, 2025
| ||
| Notice of Bankruptcy and First Meeting of Creditors | ||
| Certificate of Appointment dated November 6, 2025 | ||
Bankruptcy Order dated October 22, 2025
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Taurasi, Carlo” (Bankruptcy), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/taurasi-carlo