On August 24, 2022, pursuant to an Order of the Ontario Superior Court of Justice, PACE Savings & Credit Union Limited (“PCU”) was ordered to be wound up pursuant to section 240 of the Credit Unions and Caisses Populaires Act, 2020 and KPMG Inc. was appointed as liquidator of all of the remaining assets, undertakings and properties of PCU.
January 15, 2025 update: the liquidation proceedings of PACE are ongoing. At this time, the Liquidator is continuing to work through claims received as part of the claims process approved by the Court. Certain of these claims may require litigation and/or other legal steps. Until there is a resolution or determination of all claims, the Liquidator cannot accurately determine recoveries that may be available for holders of investment and profit shares of PACE.
Contact information
Email: pacecu@kpmg.ca
Phone: 1-833 812 1699
Court orders
Liquidation Order (August 24, 2022) [PDF 235 KB]
Endorsement of Justice Conway (August 24, 2022) [PDF 276 KB]
BC Recognition Order (September 9, 2022) [PDF 2.76 MB]
First Settlement Approval Order (February 8, 2023) [PDF 84 KB]
Endorsement of Justice Steele (February 8, 2023) [PDF 247 KB]
Second Settlement Approval Order (May 1, 2023) [PDF 474 KB]
Endorsement of Justice Steele (May 1, 2023) [PDF 273.2 KB]
Claims Process Order (September 22, 2023) [PDF 303 KB]
Monitor Activities Approval Order (September 22, 2023) [PDF 193 KB]
Endorsements of Justice Osborne (September 22, 2023) [PDF 226 KB]
Motion materials
Application Record returnable August 22, 2022 [PDF 8.5 MB]
Factum of the Applicant returnable August 22, 2022 [PDF 8.7 MB]
Motion Record returnable February 8, 2023 Part 1 [PDF 1.1 MB]
Motion Record returnable February 8, 2023 Part 2 [PDF 2.9 MB]
Motion Record returnable February 8, 2023 Part 3 [PDF 5.7 MB]
Motion Record returnable February 8, 2023 Part 4 [PDF 9.8 MB]
Motion Record returnable May 1, 2023 [PDF 3.1 MB]
Motion Record returnable Septmber 22, 2023 [PDF 1.5 MB]
Liquidator’s reports
First Report of the Liquidator dated January 27, 2023 [PDF 9.7 MB]
Second Report of the Liquidator dated April 21, 2023 [PDF 1 MB]
Third Report of the Liquidator dated May 5, 2023 [PDF 299 KB]
Fourth Report of the Liquidator dated September 6, 2023 [PDF 1.3MB]
Service list
Service List dated January 27, 2023 [PDF 115 KB]
Member communications
Letter to PACE Members dated August 25, 2022 [PDF 215 KB]
Frequently Asked Questions for PACE Members [PDF 160 KB]
Claims Process
Proof of Claim Package [PDF 273 KB]
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