43rd Parl. 1st Sess.

May 18, 2023

Royal Assent received. Statutes of Ontario 2023, chapter Pr11
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This is a law called the J2M Collingwood Holdings Inc. Act, 2023. It is about reviving a corporation called J2M Collingwood Holdings Inc. The person who applied for this law, Joseph Pugliese, used to be a director of the corporation when it was dissolved. He wants to bring the corporation back to life so that it can continue doing business. The law says that the corporation will be revived and will have all its property, rights, and obligations restored as if it had never been dissolved. The law will come into effect as soon as it receives approval from the government. Its official name is the J2M Collingwood Holdings Inc. Act, 2023.

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SteelmanSpren in Favour

One possible steelman argument in favor of the Bill PR17 2023, the J2M Collingwood Holdings Inc. Act, is as follows: Reviving J2M Collingwood Holdings Inc. through this legislation can have several positive outcomes. Firstly, it allows for the continuation of a business that was voluntarily dissolved under the Business Corporations Act. By reviving the corporation, it provides an opportunity for the company to resume its operations and potentially contribute to the economy by creating jobs, generating revenue, and fostering economic growth. Secondly, reviving the corporation ensures that any property, rights, privileges, and franchises that were associated with J2M Collingwood Holdings Inc. prior to its dissolution are restored. This means that the corporation can regain access to its assets and resources, which can be utilized for the benefit of the company and its stakeholders. Furthermore, reviving the corporation also entails taking on its liabilities, contracts, disabilities, and debts as of the date of its dissolution. This ensures that any outstanding obligations or commitments are addressed and properly managed, preventing potential legal disputes or financial burdens. Granting the application for revival can also be seen as a fair and just action. The applicant, Giuseppe Pugliese, who was a director of the corporation at the time of dissolution, has expressed a desire to revive the corporation and continue conducting business under its name. By granting the application, it acknowledges the applicant's interest and allows them to pursue their entrepreneurial endeavors. In conclusion, the revival of J2M Collingwood Holdings Inc. through the enactment of Bill PR17 2023 can have positive economic implications, provide an opportunity for the company to utilize its assets, address any outstanding obligations, and acknowledge the applicant's interest in continuing the business.

SteelmanSpren Against

Steelman Argument Opposing Bill PR17 2023: The revival of J2M Collingwood Holdings Inc. through Bill PR17 2023 sets a dangerous precedent and undermines the principles of limited government and free market capitalism. This legislation grants special privileges to a specific corporation, allowing it to be revived and continue operating despite its previous dissolution. Firstly, this bill violates the principle of equal treatment under the law. By reviving a specific corporation, the government is showing favoritism and granting special privileges to a select few. This goes against the principles of fairness and equal opportunity that are essential to a free market system. Allowing J2M Collingwood Holdings Inc. to be revived sets a precedent that other dissolved corporations may seek similar special legislation, creating an unfair advantage for certain businesses over others. Furthermore, reviving a dissolved corporation undermines the accountability and responsibility that comes with the dissolution process. When a corporation is dissolved, it is typically due to financial mismanagement or failure to meet legal obligations. Allowing J2M Collingwood Holdings Inc. to be revived without addressing the reasons for its dissolution sends the wrong message and fails to hold the corporation accountable for its past actions. This not only undermines the integrity of the business environment but also sets a dangerous precedent that corporations can escape the consequences of their failures. Additionally, reviving a dissolved corporation through special legislation can have negative implications for the economy as a whole. By allowing a failed corporation to continue operating, resources and opportunities that could have been allocated to more efficient and successful businesses are diverted. This distorts market competition and hampers economic growth. It is essential for the government to prioritize a level playing field and support businesses that demonstrate competence and viability, rather than reviving failed enterprises. In conclusion, Bill PR17 2023, which revives J2M Collingwood Holdings Inc., undermines the principles of limited government and free market capitalism. Granting special privileges to a specific corporation violates the principles of equal treatment under the law and undermines accountability. Furthermore, reviving a dissolved corporation can have negative implications for the economy as a whole. It is crucial for the government to prioritize fairness, accountability, and economic efficiency in its legislative actions, rather than granting special favors to specific businesses.