Liquidation, Dissolution and Revival (OBCA)

Summary

This practice note addresses liquidation, dissolution and revival of a corporation under the Ontario Business Corporations Act. It describes the difference between dissolution and winding up and discusses the impact if a corporation is insolvent or bankrupt during such proceedings. In particular, this practice note addresses voluntary dissolution and voluntary winding up, as well as court ordered winding up and dissolution by the Director. Lastly, this practice note describes the procedures for reviving a dissolved corporation.