Revive Dissolved Company and Restore Rights

Summary#

This private bill would bring back to life one specific Ontario company, 2343967 Ontario Inc., which was dissolved in 2024. It lets the company operate again under its old name so it can carry on business and deal with property still in its name. The bill also restores the company’s earlier rights and duties, while keeping in place any rights other people gained after the company dissolved.

• Revives 2343967 Ontario Inc. as if it had not been dissolved in 2024.
• Restores the company’s property, contracts, and other rights, and also its debts and other obligations.
• Protects people who gained legal rights after the dissolution; their rights are not taken away.
• Allows the former director who applied to use the company to manage business and property.
• Takes effect as soon as it becomes law.

What it means for you#

• Most residents

  • No direct impact on day-to-day life. This bill concerns only one private company.

• Owners and managers of 2343967 Ontario Inc.

  • The company can reopen, sign contracts, sell or manage property, and run business under its old name.
  • Past duties return too. Any unpaid bills or legal duties from before the dissolution come back.

• Creditors, customers, and suppliers

  • If the company owed you money or had a contract with you before it dissolved, you can again deal with the company to resolve it.
  • Old contracts may become active again unless they were properly ended.

• People who gained rights after the company dissolved

  • If you gained legal rights tied to the company or its property after it dissolved, those rights stay in place. The revival does not undo them.
  • You may still see follow-up steps to update records or paperwork.

• Property and land records

  • If land or other property was still in the company’s name, the revival makes it simpler to transfer, sell, or manage that property with a clear owner.

Expenses#

No publicly available information.

Proponents' View#

• Fixes a specific problem so the company can deal with property and finish business it could not handle while dissolved.
• Restores debts and duties, which can help creditors and other parties get what they are owed.
• Clarifies who can sign, sell, or manage assets held in the company’s name, reducing confusion in property or contract records.
• Very narrow scope: affects only one company and keeps protections for people who gained rights after the dissolution.
• Common and practical approach in Ontario when a company dissolved by its own choice needs to be revived.

Opponents' View#

• Uses legislative time to address a private matter for a single company.
• Reviving the company also revives old debts and liabilities, which could restart disputes.
• May create some uncertainty or extra paperwork for people who dealt with the company after it dissolved, even if their rights are protected.
• Signals that dissolutions can later be reversed by special law, which some see as weakening the finality of winding up a company.