You should seek a consultation with an LIT if your company is insolvent, which will lead you to a formal windup process. During the winding-up process, your LIT will advise you to follow some required steps:
Remove any personal effects from the premises of the business.
Expect to provide the CRA with financial details of your final year of operation.
Work with the landlord as they secure the premises, and discuss the status of any insurance. Keep records of communication, as well as a copy of the lease and any extensions.
Advise the corporate lawyer of your intentions and determine your obligations regarding annual returns.
If you disperse any assets without the help of a LIT, ensure that you keep records of anything that was sold or repossessed, as well as where the proceeds went. You may want to seek legal advice prior to doing so.
Not all of these steps can be expected for every situation, as each insolvency is different from the last. Consider consulting with an LIT to determine specific advice for your situation.