#Order
Court approved the EcoPark and Other Real Properties sale processes, authorized listing agreements with CBRE Limited and Cushman & Wakefield ULC, required court approval before any sale completes, and sealed Confidential Appendices 1 and 2.
Flato Greens Inc. et al.
ActiveFollow
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CL-26-00000262-0000
- Industry
- Real estate · Residential development
OverviewSummary updated
Flato Greens Inc. and related entities have been in a court-appointed receivership under section 243 of the BIA since June 23, 2026. The security picture centres on Dorr Capital Corporation, whose charges and general security agreements run across the group and are cross-defaulted with one another: Patterson Street Holdings Inc. (registered principal $320,000.00, 2017), Flato North Village Dundalk Inc. and Braemore Dundalk Two Inc. ($4,930,000.00, 2022), Dundalk Mixed Use Expansion One Inc., and, with Olympia Trust Company, Melancthon Meadows Inc. and 2760562 Ontario Inc. ($2,250,000.00 each, 2023). Flato Management Inc. and Shakir Rehmatullah guaranteed those facilities. Over the EcoPark Lands, a BXR1 Holdings Inc. charge was transferred and discharged on July 30 and 31, 2025, with Toronto Capital Corp. (in trust) registering on July 31, 2025. Realtrium Developments Corp. holds a blanket PPSA registration against Flato Greens from May 21, 2026.
Proceedings AIOpen Proceedings AI
Case updates16 dated entries
#Report
First Report reported receipts of $515,223 to September 29, 2026 — including $500,000 in DCC advances under the Receiver's Borrowings Charge, $14,726 rent and $497 interest — against $210,190 disbursed, with receiver's fees of $53,743, and sought approval of sale processes for the vacant land and seven houses, four tenanted, with taxes paid and replacement insurance arranged.
Source: First Report of the Receiver dated September 30, 2026
#Filing
Notice and Statement of the Receiver dated July 2, 2026 — Notice of receiver (s. 245 / Form 87)
#Order
Justice J. Dietrich appointed TDB Restructuring Limited receiver and manager of the debtors' property in Commercial List file CL-26-00000262-0000.
#Filing
Second Supplementary Motion Record of the Plaintiffs – Volume 1 of 2 dated June 22, 2026 — Application / notice of application
#Filing
Dorr Capital Corporation and Olympia Trust Company moved for a receiver under s. 243(1) of the BIA and s. 101 of the Courts of Justice Act.
Source: Motion Record of the Plaintiffs - Volume 2 of 3 dated June 8, 2026
#Filing
Motion Record of the Plaintiffs - Volume 1 of 3 dated June 8, 2026 — Application / notice of application
#Filing
Motion Record of the Plaintiffs - Volume 3 of 3 dated June 8, 2026 — Application / notice of application
AnalysisAll insights
Case update
Flato: two sale processes, eight addresses, no full creditor list
TDB Restructuring's first report describes mostly vacant land and seven houses across eight addresses, one with mould whose remediation appears disproportionate to its value, and no full creditor list or bank details from the debtors. On October 6 it asks approval to market all of it unpriced on MLS, through CBRE and Cushman & Wakefield.
Filing brief
Flato: they agreed to consent, and then opposed
Seven companies holding land in and around Dundalk, Ontario owed more than $29 million to a single lender, were in default on every loan, and had signed a forbearance agreement promising to consent to a receiver if they defaulted under it. They defaulted, and then opposed the receivership — asking for until September 30 to keep fundraising. Justice Dietrich appointed on June 23.
Parties
Debtor
Flato Greens Inc. et al.
Applicant
Dorr Capital Corporation,Olympia Trust Company
Receiver
TDB Restructuring
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dietrich | Ontario Superior Court of Justice | 3 orders, Jun 2026 – Oct 2026 | 132 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverTDB Restructuring | Paliare Roland Rosenberg Rothstein LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| ApplicantDorr Capital Corporation,Olympia Trust Company | Blaney McMurtry LLP | 22 Jun 2026 | Factum · 22 Jun 2026 |
| DebtorFlato Greens Inc. et al. | Garfinkle, Biderman LLP · Ross Nasseri LLP | 22 Jun 2026 | Service list · 20 Jul 2026 |
| Purchasera prospective | Harrison Pensa LLP | 28 Sep 2026 | Service list · 28 Sep 2026 |
| CreditorAgriroots Diversified Lending Fund LP and Farm Lending Canada Inc | Scott Petrie LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorFieldgate Commercial Developments Limited | Brattys LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorRealtrium Developments Corp | Lipetz Law | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorToronto Capital Corp | Garfinkle, Biderman LLP | 28 Sep 2026 | Service list · 28 Sep 2026 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Dorr Capital Corporation (DCC) · in 3 casesCharge/Mortgage in principal amount of $15,000,000 registered in first position against the Expansion Lands as Instrument No. GY234780 (LRO #16) on October 13, 2022; General Assignment of Rents; General Security Agreement dated October 13, 2022, registered under PPSA. Total loan principal advanced was $13,500,000 (First Tranche $12,000,000 + Second Tranche $1,500,000). — Amount includes accrued interest of $491,406.47, plus per diem of $4,671.62/day accruing from March 18, 2026. Unlimited guarantee by Shakir Rehmatullah (personal) and FMI (related party) dated October 13, 2022. — debtor: Dunda · as of 17 Mar 2026 | $14.3M | Motion Record of the Plaintiffs - Volume 1 of 3 dated June 8, 2026 |
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured | |||
| Secured |
6 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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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.
Sale processAs stated in the filings
Sale process approved — The EcoPark Sale Process and Other Real Properties Sale Process are approved and the Receiver is authorized to carry them out and enter the listing agreements, with court approval required before completion of any sale transaction.Sale Process Approval Order dated October 6, 2026 · 6 Oct 2026
AdvisorsCBRE Limited (listing broker); Cushman & Wakefield (listing broker)Sale Process Approval Order dated October 6, 2026
Sealed materialsConfidential Appendix 1 to the First Report: the Receiver's summary of proposals (sealed until completion of the sales of the Real Properties or further Order); Confidential Appendix 2 to the First Report: the Receiver's assessment of listing terms from CBRE (sealed until completion of the sale of the EcoPark Property or further Order)Sale Process Approval Order dated October 6, 2026
Estate financialsReported figures — never derived
Cumulative receipts
$515K
As at 29 Sep 2026First Report of the Receiver dated September 30, 2026
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures
Each one as the filing states it, with its source.
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See all plansDocuments
15 filings
| Date | Document | File |
|---|---|---|
Sale Process Approval Order dated October 6, 2026
| PDF · Subscribers | |
Aide Memoire of the Receiver dated October 5, 2026
| PDF · Subscribers | |
First Report of the Receiver dated September 30, 2026
| PDF · Subscribers | |
Motion Record of the Receiver dated September 30, 2026
| PDF · Subscribers | |
Service List dated September 28, 2026
| PDF · Subscribers | |
Service List dated July 20, 2026
| PDF · Subscribers | |
| Notice and Statement of the Receiver dated July 2, 2026 | PDF · Subscribers | |
Appointment Order dated June 23, 2026
| PDF · Subscribers | |
Endorsement of the Honourable Justice J. Dietrich dated June 23, 2026
| PDF · Subscribers | |
Factum of the Defendants dated June 22, 2026
| PDF · Subscribers | |
| Second Supplementary Motion Record of the Plaintiffs – Volume 1 of 2 dated June 22, 2026 | PDF · Subscribers | |
Supplementary Factum of the Plaintiffs dated June 22, 2026
| PDF · Subscribers | |
Motion Record of the Plaintiffs - Volume 1 of 3 dated June 8, 2026
| PDF · Subscribers | |
Motion Record of the Plaintiffs - Volume 2 of 3 dated June 8, 2026
| PDF · Subscribers | |
Motion Record of the Plaintiffs - Volume 3 of 3 dated June 8, 2026
| 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., “Flato Greens Inc. et al.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/flato-greens-inc-et-al