Ontario · Receivership (court-appointed)
Alterna Savings and Credit Union Limited Receivership Application Record
Application / notice of application · 31 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 filing9 verified
- applicantALTERNA SAVINGS AND CREDIT UNION LIMITED
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noCL-26-00000124-0000
- statutory basisSection 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and Section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- commencement date25 March 2026
- secured creditorsnote: Registered without Alterna's consent; alleged to constitute an event of default under the Mortgage/Commitment Letter. · page: 25 · as of: 2025-06-23 · debtor: Baiocchi Ventures Inc. · creditor: Glee Blais Holdings Limited, Ciccone Holdings Inc., Kikely Holdings Inc., Jeremiah Joseph Rose, Edith Marlene Rome · currency: CAD · security: Charge registered against 15 Curity Avenue, Toronto (Instrument AT6844033); registered principal amount $1,200,000 (not a stated outstanding balance)
- secured creditorsnote: Related party: sole director is Yeganeh Baiocchi, wife of BVI's directing mind Aldo Baiocchi; non-arm's length. Registered without Alterna's consent, alleged to constitute an event of default under the Mortgage/Commitment Letter; registered 4 days after Daymak Inc. receivership order. · page: 25 · as of: 2025-05-27 · debtor: Baiocchi Ventures Inc. · creditor: 1000097226 Ontario Ltd. · currency: CAD · security: Charge registered against 15 Curity Avenue, Toronto (Instrument AT6823868); registered principal amount $3,000,000 (not a stated outstanding balance)
- secured creditorsnote: Serialized-equipment PMSI financier registrations aggregated per equipment financing class; no balances stated. · page: 29 · debtor: Baiocchi Ventures Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Arbutus Capital Leasing Ltd - three PPSA registrations (Oct 5, 2023; June 19, 2024; Jan 31, 2025) over specific serialized computer server equipment and proceeds
- secured creditorsnote: Exact balance per Jan 28, 2026 demand letter: Principal $9,602,649.44 + Accrued Interest $244,764.63 + Legal Costs (incl. HST) $3,955.00 = $9,851,369.07, accruing at $1,654.04/day. Application prose rounds this to $9,851,369. Loan also guaranteed jointly and severally by Aldo Baiocchi and Yeganeh Baiocchi (personal guarantors; Aldo Baiocchi is sole director/guiding mind of debtor). · page: 211 · as of: 2026-01-28 · amount: 9851369.07 · debtor: Baiocchi Ventures Inc. · creditor: Alterna Savings and Credit Union Limited · currency: CAD · security: First-ranking Charge/Mortgage on 15 Curity Avenue, Toronto (PIN 10375-0118, Instrument AT6347838, registered principal $10,000,000); General Assignment of Rents (Instrument AT6347839); General Assignment of Leases; General Security Agreement (all present/after-acquired personal property); Assignment of Term Deposit as Security