If an applicant has met the flight time requirements specified in paragraph (4)(a), the applicant who holds a commercial or higher type pilot licence in the aeroplane category, issued by a contracting state is considered to have met the ground school requirement.
This is from CAR 421.30(9) which is the credit for foreign applicants. I interpret this as saying that you would need to complete both the ground and flight tests, but that all the hour and ground studies are considered complete (assuming you meet all the flight time requirements listed in 421.30.
As this is the only regulation detailing what Transport Canada will do for foreign applicant, I would infer that an LPC would not be acceptable. BUT...go into or call a Transport Canada office and ask that question directly. They might have a policy letter or similar that they can implement on a case-by-case basis.