LDI Lakeside Developments Inc., the owner of a property municipally known as 203 Highway 60, Huntsville, Ontario, was placed in receivership on April 17 on application by 1473124 Ontario Inc., owed approximately $5.2 million. The company purchased the property to develop a condominium project on Fairy Lake in Muskoka, to be known as "Lakeside Muskoka." The majority of the condominiums have been sold, however there has been no construction activity on the development and the company does not have construction financing in place to fund the project. It has also fallen behind on its property taxes and other obligations and, according to the applicant, has presented no viable option to refinance its indebtedness. Fuller Landau was appointed receiver. Counsel is Loopstra Nixon for the applicant and Chaitons for the company.