Summary#
This is a private Ontario bill that brings back a single company, Acme Restoration Inc., which was shut down in 2024. The goal is to restore the company so it can deal with property still in its name and handle any unfinished business.
- Revives Acme Restoration Inc. as if it had never been dissolved.
- Restores the company’s property, rights, and ability to operate.
- Also restores its debts, contracts, and other obligations.
- Protects people who gained legal rights during the time the company was dissolved.
- Takes effect once it receives Royal Assent (final approval to become law).
What it means for you#
- General public
- No direct impact on everyday life. This bill affects only one company.
- Former owners and managers of Acme Restoration Inc.
- The company comes back to life and can manage or transfer property still in its name.
- You regain the company’s powers, but also its responsibilities and debts.
- Creditors and suppliers
- You can again pursue the company for amounts owed, since its obligations are restored.
- Customers and clients
- The company can finish pending work or resolve disputes that were left open.
- People with interests in the company’s property (buyers, tenants, neighbors)
- Deals or rights you gained while the company was dissolved remain valid.
- Title issues can be cleared because the company can now sign documents and complete transfers.
- Government agencies and registries
- Can update records to show the company is active again and process property matters.
Expenses#
Estimated public cost: minimal administrative costs only.
- No new program or broad funding is created.
- Costs are mainly the routine work of passing a private bill and updating corporate and land records.
Proponents' View#
- Revival lets the company handle property and finish loose ends that require a legal corporate owner.
- Restoring the company’s liabilities protects creditors and others who are owed money.
- The bill includes a safeguard so people who gained rights during the dissolution are not harmed.
- A special law is appropriate because the company was voluntarily dissolved, which can block normal administrative revival.
Opponents' View#
- The Legislature’s time is being used to solve a private business matter affecting only one company.
- Reviving dissolved corporations can create confusion about property and contracts, even with safeguards.
- Relying on special bills could encourage others to seek legislative fixes instead of using regular corporate processes.
- Limited public details make it hard to assess why revival is needed beyond the stated property issue.