Back to Bills

Revive Company to Settle Estate Property

Full Title:
Bill PR51, 861282 Ontario Limited Act, 2026

Summary#

This private bill brings back a dissolved company, 861282 Ontario Limited, so it legally exists again. The goal is to let the estate of the former owner deal with property that was still in the company’s name when it was shut down in 2024.

  • Restores the company as if it had never been dissolved, including its rights and its debts.
  • Allows the estate trustee (Tracy M. Schembri) to handle company property and finish estate matters.
  • Protects any rights other people gained after the company was dissolved.
  • Takes effect as soon as it becomes law.

What it means for you#

  • General public

    • No change to most people. This bill affects only this one company and those tied to it.

  • Heirs and shareholders of 861282 Ontario Limited

    • The estate can transfer, sell, or manage property that was stuck in the company’s name.
    • You may be able to finish closing the estate and settle any remaining business.

  • Creditors and business partners of the company

    • You can again make or resolve claims with the company because it legally exists.
    • Any old contracts or debts come back into force, as they were before dissolution.

  • People connected to the company’s property (tenants, neighbors, buyers)

    • Ownership records can be updated, which can clear title and make sales or refinancing possible.
    • If you gained rights after the company was dissolved, those rights are preserved.

Expenses#

No publicly available information.

Proponents' View#

  • This is a practical fix to deal with property left in a dissolved company’s name.
  • Helps an estate finish its work and avoids long delays or court costs.
  • Restoring the company brings clarity to land titles and business records.
  • Creditors and contract holders are protected because the company’s obligations return.
  • It is a routine, limited bill with little or no impact on the wider public.

Opponents' View#

  • Uses legislative time for a private matter that might be handled in other ways.
  • Reviving a company after dissolution can create confusion for people who thought it was closed.
  • Retroactive restoration may complicate disputes, even though post-dissolution rights are protected.
  • Could be seen as encouraging lax corporate housekeeping if revivals are too easy.