Ontario firm revived to manage property

Summary#

This is a private bill to bring back a single Ontario company that was legally shut down in 2022. The company, Ontario Wildlife Holdings & Sanctuary Corp., wants to be revived mainly to deal with real estate that was still in its name when it closed.

• Revives the company as if it had never been dissolved, so it can own property and do business again.
• Restores its property, rights, and powers, and also its debts and other duties.
• Protects any rights that other people gained after the company was shut down.
• Takes effect as soon as it gets Royal Assent (becomes law).

What it means for you#

• Workers, shareholders, and directors

  • The company can operate again and manage, sell, or transfer its real estate.
  • It must also handle any unpaid debts, taxes, or contracts that existed before.

• Creditors, contractors, and service providers

  • You can once again make or continue claims against the company for what you are owed.

• Tenants or people using the company’s property

  • Leases or agreements can be updated or enforced by the revived company.
  • There could be changes if the company sells or redevelops the property.

• Neighbors and local community

  • Day-to-day impact is likely small.
  • Property owned by the company may be maintained, sold, or put to new uses.

• Property buyers, lenders, and title professionals

  • Title issues can be cleared or corrected because the legal owner now exists again.
  • Any rights you gained after the shutdown remain protected by the bill.

• Local governments

  • Easier to collect any property taxes or fees tied to the company’s land.
  • Land records can be updated under the company’s name.

Expenses#

No publicly available information.

Proponents' View#

• Fixes a technical problem so the company can properly manage and transfer its real estate.
• Lets the company pay taxes, settle debts, and meet its duties instead of leaving matters in limbo.
• Protects people who gained rights after the shutdown, so third parties are not harmed.
• Narrow, one-company bill that does not change broader policy.

Opponents' View#

• Uses legislative time for a private matter with limited public benefit.
• Offers little detail about the property or issues involved, limiting public transparency.
• Reviving the company could reopen old disputes or bring back unexpected debts.
• May create some confusion for people who dealt with the property during the shutdown period, even with protections in place.