Foresters Indemnity continuance; J.P. Morgan liquidation

Summary#

This Canada Gazette item contains two short notices.
Foresters Indemnity Company says it will apply on or after March 31, 2020 for approval to seek a certificate of continuance so it can become a federal corporation under the Canada Business Corporations Act.
The government also published that J.P. Morgan Canada was approved for dissolution effective August 27, 2001 and has begun voluntary liquidation (notice dated March 28, 2020).

What it does#

• Foresters Indemnity Company intends to ask the Superintendent of Financial Institutions (Canada) for permission to apply for a certificate that would let the company continue as a corporation under the Canada Business Corporations Act. This application is to be made on or after March 31, 2020.
• The Secretary of State (International Financial Institutions), acting for the Minister of Finance, approved J.P. Morgan Canada’s application for letters patent of dissolution under the Bank Act, effective August 27, 2001, and the bank has started voluntary liquidation (as noted March 28, 2020).

Who's affected#

• For the Foresters notice: customers, policyholders, creditors, employees, and business partners of Foresters Indemnity Company could be affected if the company’s legal structure or regulatory oversight changes. The notice only says the company intends to apply; it does not say the change is approved.
• For the J.P. Morgan Canada notice: former or current clients, creditors, employees, and anyone with legal or financial ties to J.P. Morgan Canada may be affected by its ongoing liquidation. The Gazette notice confirms the dissolution approval and that liquidation has started.
• The notices are brief and do not list specific names of affected individuals or firms, so exact impacts are not detailed in the source.

Why it matters#

• A certificate of continuance can change a company’s legal and regulatory framework. That can affect where and how the company is governed, and sometimes how claims, contracts, or taxes are handled. The Foresters notice signals a potential corporate change but not a completed one.
• Dissolution and voluntary liquidation mean a company is winding up its affairs. For anyone with money, contracts, or claims involving J.P. Morgan Canada, this process can affect how and when those matters are resolved. The Gazette notice confirms the legal approval and that the liquidation is underway.