Ontario · Receivership (court-appointed)
Application Record
Application / notice of application · 29 April 2026
What we verified from this filing10 verified
- applicantTHE TORONTO-DOMINION BANK
- commencement date29 April 2026
- courtSUPERIOR COURT OF JUSTICE
- court file noCL-26-00000179-0000
- provinceONTARIO
- statutory basissubsection 243(1) of The Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- appointeeBDO Canada Limited
- appointee roleReceiver
- secured creditorsnote: Registration was made without the knowledge or consent of TD Bank and constitutes a breach of the negative covenants in TD's Loan Agreement (an Event of Default); ranks second/subordinate to TD's first mortgage and GSA. · page: 26 · as of: registered December 19, 2025 · debtor: Core FSC Lakeshore Limited Partnership and Core FSC Lakeshore GP Inc. · creditor: Forum Subterra General Partner Inc. (c/o Forum Equity Partners) · currency: CAD · security: Second mortgage against the Real Property, registered December 19, 2025 as Instrument No. HR2150854, registered principal amount $249,390 (registered principal, not a stated outstanding balance)
- secured creditorsnote: Original Loan Agreement credit limit (land loan) was up to $18,000,000 (facility limit, not balance). Demand letter and s.244 BIA notice dated March 4, 2026 stated indebtedness at that date of $18,121,745.58 CAD (page 147). Affidavit sworn April 28, 2026 (in support of this application) states a more current balance of $18,240,367.62, inclusive of interest to that date, exclusive of professional fees and further accruing interest; this is used as the amount. Also supported by guarantees: Forgestone Guarantors (Forgestone Capital Fund No. 2 LP, FSC Old Lake GP Inc., FSC Old Lake Limited Partnership - related parties) jointly and severally guaranteed 75% of total outstanding liabilities and each granted a GSA over assets pertaining to the project; Core Guarantors (Core Development Group Ltd., a corporate guarantor, and individuals Robert Corey Hawtin, Lucie Andlauer, and Gloria Tilson as personal guarantors) jointly and severally guaranteed 25%, with Core Development Group Ltd. also granting a GSA. As of the application, the Bank had not taken steps to enforce the Guarantees. · page: 27 · as of: 2026-04-28 · amount: 18240367.62 · debtor: Core FSC Lakeshore Limited Partnership and Core FSC Lakeshore GP Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General 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)