Ontario · Winding-up (provincial)
Fifth Report of the Liquidator (March 19, 2026)
Court officer report · 19 March 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing8 verified
- closing confirmedscope: substantially all of the business and assets ... of the Credit Union · outcome: completed · effective: 2022-06-30 · purchaser: Alterna Savings and Credit Union Limited · date basis: stated; scope: all of the issued and outstanding share capital of CCE · outcome: completed · effective: 2022-03-31 · purchaser: DUCA Credit Union · date basis: stated
- disbursementsnote: approximate figure · since: August 24, 2022 (date of the Liquidation Order) · amount: 6000000 · currency: CAD
- operational summaryPCU's business and assets were transferred to Alterna in 2022; the Liquidator has since wound down remaining matters including the prepaid card business, resolved retail loan fraud litigation via settlements, and is administering a claims process with a few unresolved claims remaining.
- professional feesnote: approximate figure covering multiple professionals assisting the Liquidator · party: Liquidator, its independent counsel, Chaitons LLP, Fasken Martineau DuMoulin LLP, Lax O'Sullivan Lisus Gottlieb LLP, BDO, and other legal and professional service firms · amount: 5700000 · period: August 24, 2022 to March 14, 2026 · currency: CAD
- purchaserDUCA Credit Union; Alterna Savings and Credit Union Limited
- receipts cumulativenote: approximate figure · since: August 24, 2022 (date of the Liquidation Order) · amount: 34700000 · currency: CAD
- report date19 March 2026
- report noFifth Report