Core FSC Lakeshore Limited Partnership and Core FSC Lakeshore GP Inc.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CL-26-00000179-0000
- Industry
- Real estate
Core FSC Lakeshore Limited Partnership and Core FSC Lakeshore GP Inc. have been placed in court-appointed receivership as of May 19, 2026, on application under section 243 of the BIA by The Toronto-Dominion Bank. TD holds a general security agreement dated March 30, 2023 and a continuing collateral mortgage registered March 31, 2023 against the real property in the registered principal amount of $20,000,000, together with PPSA registrations made March 30, 2023. The Bank issued a demand and section 244 notice on March 4, 2026 citing indebtedness of $18,121,745.58; an affidavit sworn April 28, 2026 put the balance at $18,240,367.62 including interest to that date and excluding professional fees. A second mortgage registered December 19, 2025 by Forum Subterra General Partner Inc. for $249,390, made without TD's knowledge or consent, breached negative covenants in the loan agreement. The debt is also guaranteed, 75% by the Forgestone guarantors and 25% by the Core guarantors, including personal guarantors Robert Corey Hawtin, Lucie Andlauer and Gloria Tilson; as of the application the Bank had not moved to enforce those guarantees.
The court appointed BDO Canada Limited as receiver and manager, on the application of The Toronto-Dominion Bank. Court file CL-26-00000179-0000.
Source: Receivership Order
Core FSC Lakeshore Limited Partnership and Core FSC Lakeshore GP Inc. — Receivership filed, Ontario.
Filing brief
Old Lakeshore Road: 310 units that were never built
Five addresses on Burlington's waterfront, assembled across two PINs, earmarked for a 310-unit condominium. Nothing was built. TD is owed more than $18.2 million against undeveloped land, and when it applied to appoint a receiver nobody opposed — including the guarantors, one of whom told the court it supported the appointment.
Debtor
Core FSC Lakeshore Limited Partnership and Core FSC Lakeshore GP Inc.
Applicant
The Toronto-Dominion Bank
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Black | Ontario Superior Court of Justice | 2 orders, May 2026 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantThe Toronto-Dominion Bank | Miller Thomson LLP | 19 May 2026 | Order · 19 May 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | The Toronto-Dominion Bank · in 121 casesGeneral Security Agreement dated March 30, 2023 (first charge over all present and after-acquired personal property, including real property, accounts, equipment, inventory, intangibles and proceeds); Continuing Collateral Mortgage registered March 31, 2023 against the Real Property, registered principal amount $20,000,000 (not the balance); PPSA financing statements registered March 30, 2023 (three registrations each against the LP and GP, covering inventory/equipment/accounts/other personal property/motor vehicles and accounts/other personal property, six-year terms) — Original Loan Agreemen · as of 28 Apr 2026 | $18.2M | Application Record |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
10 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansThis proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
| Date | Document | File |
|---|---|---|
Receiver’s Notice
| PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Application Record
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Core FSC Lakeshore Limited Partnership and Core FSC Lakeshore GP Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/core-fsc-lakeshore-limited-partnership-and-core-fsc-lakeshore-gp-inc