775 King Road and 2298 Fassel Avenue, Burlington, Ontario

775 King Road and 2298 Fassel Avenue, Burlington, have been in court-appointed receivership since September 19, 2025, when the Ontario Superior Court of Justice (Commercial List) appointed TDB Restructuring Limited receiver and manager on the application of National Bank of Canada, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, in court file CV-25-00751438-00CL. The bank asserts secured indebtedness of $1,232,726.32 and $1,032,973.88 across the two properties, whose book values — provided to the receiver by the debtor — are $1,808,190 for 775 King Road and $570,000 for 2298 Fassel Avenue. Unsecured claims include $10,804.00 owed to the City of Burlington, with smaller amounts to Turtle Bay Pools and Leisure Inc., Burlington Hydro, Enbridge Gas and Reliance Home Comfort.