Revive Dissolved Company to Settle Estate

Summary#

This is a private bill to revive a single Ontario corporation, CIJ Consulting Inc. The company was voluntarily dissolved in 2024. The executor of the estate of the sole shareholder asked to bring it back to handle property still in the company’s name. The goal is to restore the company so its assets and obligations can be dealt with properly.

• Revives CIJ Consulting Inc. as if it had not been dissolved.
• Restores the company’s property, rights, and privileges, and also its debts, contracts, and legal duties.
• States that any rights other people acquired after the dissolution are not harmed by the revival.
• Takes effect on the day it receives Royal Assent.

What it means for you#

• For most people: No direct effect. This bill mainly affects the company and people tied to it.

• For the estate and heirs:

  • You could manage, transfer, or sell property that was in the corporation’s name when it dissolved.
  • You could wind up remaining business, settle accounts, or distribute assets through the corporation.

• For creditors and business partners of CIJ Consulting Inc.:

  • Your contracts and claims with the company would be revived as if the company had never been dissolved.

• For third parties who gained rights after the dissolution:

  • The bill says your rights are protected; the revival is “subject to any rights acquired” after dissolution.

• For government records and filings:

  • The company would likely be able to file any needed returns or updates again. The bill does not provide details.

Expenses#

No publicly available information.

• Private legal and filing costs would likely fall on the company or the estate to act on the revival. The bill does not state amounts.

Proponents' View#

• The bill appears intended to let the executor deal with property that remained in the corporation’s name after dissolution.
• Restoring the company’s full legal status could make it easier to transfer assets, finish transactions, and pay any debts.
• Bringing back both rights and liabilities could ensure fair treatment of creditors and other parties.
• Protecting rights acquired by others after dissolution helps limit harm to third parties.

Opponents' View#

• It is unclear from the bill why special legislation is needed instead of using any administrative revival options that may exist under current law.
• Reviving all contracts and liabilities could create uncertainty for some parties who assumed the dissolution was final; how specific disputes would be handled is not explained.
• The bill focuses on a single private corporation, which may raise questions about using legislative time for a narrow matter.