Developer Harry Stinson is seen at public presentation in Hamilton in 2008. Photo: Nhl4hamilton
A real estate developer who once thrived in Toronto and Hamilton might be heading for bankruptcy.
On Friday, the Ontario Securities Commission announced that it filed an application under the Bankruptcy and Insolvency Act (BIA) to obtain a bankruptcy order against Harry Stinson and appoint a trustee over his assets.
Stinson gained recognition for his distinctive condo projects in Toronto, including The Candy Factory Lofts and 1 King Street West, which earned him the nickname “condo king.” He relocated to Hamilton in 2008 and has worked on development projects there, as well as more recently in Buffalo, New York.
The OSC claims Stinson did not pay the financial penalties and costs mandated by the Capital Markets Tribunal on Dec. 15, 2023, totaling over $13 million in disgorgement and $600,000 in administrative fines.
The OSC also stated that Stinson did not follow Ontario securities law while raising funds from investors for a hotel renovation project in Buffalo, New York.
In 2022, the OSC accused Stinson of misleading investors who provided him with $19 million for the Buffalo Grand Hotel, alleging he used those funds for different projects, according to a CBC story. Stinson reportedly contests these allegations.
Stinson had intended to restore, reopen, and possibly sell the Buffalo Grand Hotel based on information from the OSC.
However, refinancing for the hotel never occurred as claimed by the OSC. In 2025, Mr. Stinson sought to alter the sanctions and costs order but was denied by the Tribunal.
In December 2025, the City of Buffalo began steps to declare the Buffalo Grand Hotel abandoned due to it being subject to an order to vacate along with overdue property taxes and zoning violations.
The efforts to reopen the hotel remain unfinished and uncertain according to the OSC.
“Mr. Stinson has been unable to demonstrate a viable path toward making investors whole, and addressing the sanctions ordered against him,” the OSC said. “As such, today’s application for a bankruptcy order is necessary to try to resolve this long running case and potentially obtain disgorgement amounts that could be distributed to harmed investors.”
A public hearing is set for Sept. 23, 2026. A court will decide if a trustee should take control of Stinson’s assets.
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