Sunday, January 31, 2010

Does Pat Campagna know that 2074359 Ontario Ltd. Is Listed As A Dissolved Corporation

http://www.ontario.ca/ontprodconsume/groups/content/@gopsp/@ontgazette/@gazettes/documents/document/ont06_018687.pdf

Lists of dissolved corporations can be found at the above noted pdf file put out by the Ontario Gazette and 2074359 Ontario Ltd. is listed as dissolved effective Mar 31/09

Does Pat Campagna the mortgagee understand his rights under the Business Corporations Act?
I have quoted the following text from http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_90b16_e.htm#BK226
238.  (1)  For the purpose of bringing the dissolution authorized under clause 237 (a) or (b) into effect, articles of dissolution shall follow the prescribed form and shall set out,
(a) the name of the corporation;
(b) that its dissolution has been duly authorized under clause 237 (a) or (b);
(c) that it has no debts, obligations or liabilities or its debts, obligations or liabilities have been duly provided for in accordance with subsection (3) or its creditors or other persons having interests in its debts, obligations or liabilities consent to its dissolution;
(d) that after satisfying the interests of creditors in all its debts, obligations and liabilities, if any, it has no property to distribute among its shareholders or that it has distributed its remaining property rateably among its shareholders according to their rights and interests in the corporation or in accordance with subsection (4) where applicable; and
(e) that there are no proceedings pending in any court against it.  (f) Repealed: 1994, c. 27, s. 71 (25)

Idem
(3)  A corporation shall not restate its articles under section 173 unless the articles of the corporation are in conformity with this Act and, where the articles have been deemed to be amended under subsection (1), the corporation has amended the express terms of the provisions in its articles in accordance with subsection (2). R.S.O. 1990, c. B.16, s. 277 (3)
 I have not found any proof that 2074359 Ontario Ltd. has been revived but I have here a quote that shows that 2074359 Ontario Ltd. could possibly have been revived as a corporation.

Revival
(5)  Where a corporation is dissolved under subsection (4) or any predecessor of it, the Director on the application of any interested person, may, in his or her discretion, on the terms and conditions that the Director sees fit to impose, revive the corporation; upon revival, the corporation, subject to the terms and conditions imposed by the Director and to the rights, if any, acquired by any person during the period of dissolution, shall be deemed for all purposes to have never been dissolved. 1999, c. 12, Sched. F, s. 9.

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