171 (1) Despite the dissolution of a corporation under this Act, (a)  a civil, criminal, administrative, investigative or other action or proceeding commenced by or against the corporation before its dissolution may be continued as if it had not been dissolved; (b)  a civil, criminal, administrative, investigative or other action or proceeding may be brought against the corporation as if it had not been dissolved; (c)  property that would have been available to satisfy a judgment, order or decision if the corporation had not been dissolved remains available for that purpose, subject to subsections (1.1) and (1.2); and (d)  land belonging to the corporation immediately before the dissolution remains available to be sold in power of sale proceedings, subject to subsection (1.1). 2015, c. 38, Sched. 7, s. 55 (12). Exception, forfeited corporate property (1.1) Property that is forfeited corporate property is no longer available to satisfy a judgment, order or decision against the corporation or to be sold in power of sale proceedings after the earliest of, (a)  the day the Minister responsible for the administration of the Forfeited Corporate Property Act, 2015 disposes of the Crown’s interest in the property; (b)  the day an order cancelling encumbrances against the property under section 18 of the Forfeited Corporate Property Act, 2015 takes effect; (c)  in the case of real property, the day a notice is registered on title to the property under section 24 of the Forfeited Corporate Property Act, 2015, indicating that the Crown intends to use the property for Crown purposes; and (d)  in the case of personal property, the day the Crown begins to use the property for Crown purposes. 2015, c. 38, Sched. 7, s. 55 (12). Exception, Escheats Act, 2015 (1.2) Property to which the Escheats Act, 2015 applies is no longer available to satisfy a judgment, order or decision against the corporation or to be sold in power of sale proceedings after the earliest of, (a)  the day the Public Guardian and Trustee takes possession of the property; (b)  the day the Public Guardian and Trustee disposes of the Crown’s interest in the property; and (c)  the day the Crown begins to use the property for Crown purposes. 2015, c. 38, Sched. 7, s. 55 (12). Service after dissolution (2) For the purposes of this section, the service of any process on a corporation after its dissolution is deemed to be sufficiently made if it is made upon any person last shown on the most recent notice or return filed under the Corporations Information Act
as being a director or officer of the corporation before the dissolution. 2010, c. 15, s. 171 (2). Notice of proceeding (3) A person who commences an action, suit or other proceeding against a corporation after its dissolution shall, (a)  serve the writ or other document by which the action, suit or other proceeding was commenced on the Minister responsible for the administration of the Forfeited Corporate Property Act, 2015 and the Public Guardian and Trustee in accordance with the rules that apply generally to service on a party to an action, suit or other proceeding; and (b)  deliver to the Minister responsible for the administration of the Forfeited Corporate Property Act, 2015 and the Public Guardian and Trustee, along with the document served under clause (a), a notice that, (i)  sets out the name of the dissolved corporation, (ii)  explains why the action, suit or other proceeding is being commenced against the dissolved corporation, and (iii)  identifies any property that is referred to in the proceeding and was owned by the corporation at the time of its dissolution. 2015, c. 38, Sched. 7, s. 55 (13). Exception, proceedings in respect of land (4) A person who commences any of the following proceedings is not required to serve the writ or other document described in clause (3) (a) on or deliver the notice described in clause (3) (b) to the Public Guardian and Trustee: 1.  A proceeding for power of sale or foreclosure of land that is forfeited corporate real property. 2.  An application under the Land Titles Act in respect of land that is forfeited corporate real property or land that is adjacent to forfeited corporate real property. 3.  A proceeding claiming an interest in land that is forfeited corporate real property, if the proceeding relates solely to claiming the interest in land. 2015, c. 38, Sched. 7, s. 55 (13). Same, proceedings for power of sale (5) A person who is required to serve a writ or other document under clause (3) (a) in connection with a proceeding for power of sale shall do so in accordance with the notice requirements under the Mortgages Act. 2015, c. 38, Sched. 7, s. 55 (13). Definition (6) In this section, “forfeited corporate property”, “forfeited corporate personal property” and “forfeited corporate real property” have the same meaning as in the Forfeited Corporate Property Act, 2015. 2015, c. 38, Sched. 7, s. 55 (13). Definition (7) In this section and section 173, “proceeding” includes a power of sale proceeding relating to land commenced pursuant to a charge or mortgage. 2015, c. 38, Sched. 7, s. 55 (13). Section Amendments with date in force (d/m/y) 2015, c. 38, Sched. 7, s. 55 (12, 13) - 19/10/2021