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.
