43rd Parl. 1st Sess.

October 26, 2023

Royal Assent received. Statutes of Ontario 2023, chapter Pr15
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This is a law called the League Technique Inc. Act, 2023. It is about reviving a corporation called League Technique Inc. that was dissolved in 2021. The person who applied for this law wants to bring back the corporation so they can continue doing business under its name. The law says that the corporation will be restored to its previous legal position, including all its property, rights, and debts. The law will come into effect as soon as it receives approval from the government.

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SteelmanSpren in Favour

A steelman argument in favor of the Bill PR22 2023, the League Technique Inc. Act, can be made based on the following points: 1. Economic Continuity: Reviving League Technique Inc. would allow for the continuation of a business entity that has previously operated and potentially contributed to the local economy. By restoring the corporation to its legal position, including its property, rights, and privileges, the Act ensures that the company can resume its operations without disruption. This can lead to job retention, economic growth, and the potential for future investments. 2. Legal Certainty: The Act provides clarity and certainty by explicitly stating that the revived corporation will be subject to all its liabilities, contracts, disabilities, and debts as of the date of its dissolution. This ensures that any legal obligations or commitments made by the corporation prior to dissolution are still valid and enforceable. It also protects the rights of any parties who may have entered into agreements with the corporation, providing them with a legal recourse to pursue their claims. 3. Preservation of Intellectual Property: Reviving League Technique Inc. allows for the preservation of any intellectual property rights held by the corporation. Intellectual property, such as patents, trademarks, or copyrights, can be valuable assets that contribute to innovation and economic growth. By reviving the corporation, these intellectual property rights can be safeguarded and utilized for future business activities, potentially benefiting both the corporation and the wider community. 4. Regulatory Compliance: The Act acknowledges that the corporation was voluntarily dissolved under the Business Corporations Act and seeks to rectify this situation by reviving it. This demonstrates a commitment to regulatory compliance and adherence to legal procedures. By reviving the corporation through special legislation, it ensures that the revival process is conducted in a transparent and accountable manner, providing a clear framework for the corporation's reestablishment. 5. Flexibility for the Applicant: The Act is specific to the case of Yang Ji, who was a director of the dissolved corporation. By granting the application for revival, it allows the applicant to carry on business in the name of the corporation. This flexibility can be beneficial for individuals who have a vested interest in the corporation's success and wish to continue their involvement in its operations. It recognizes the applicant's commitment and provides an opportunity for them to pursue their business goals. Overall, the League Technique Inc. Act, 2023, provides a legal framework for the revival of a dissolved corporation, ensuring economic continuity, legal certainty, preservation of intellectual property, regulatory

SteelmanSpren Against

Steelman Argument Opposing Bill PR22 2023: While it is understandable that Yang Ji wishes to revive League Technique Inc., it is important to consider the potential negative consequences of such an action. Reviving a dissolved corporation raises concerns about the role of government intervention in the economy and the potential for unfair advantages. Firstly, reviving a corporation in this manner undermines the principles of free market competition. By restoring League Technique Inc. to its previous legal position, the government is essentially granting it a second chance without having to face the consequences of its previous dissolution. This creates an unfair advantage over other businesses that have followed the proper procedures or have been unable to revive their own dissolved corporations. Furthermore, this legislation sets a dangerous precedent for government interference in the private sector. Granting special legislation to revive a specific corporation sends a message that the government is willing to intervene in the market on an individual basis. This undermines the principles of limited government and free enterprise that are fundamental to a thriving economy. Additionally, reviving a dissolved corporation may also have negative implications for taxpayers. If League Technique Inc. had liabilities, debts, or disabilities at the time of its dissolution, reviving the corporation means that these burdens will be transferred back to the public. This places an unfair burden on taxpayers who may end up shouldering the costs of a corporation's previous failures. In conclusion, while it may seem reasonable to revive League Technique Inc., it is important to consider the potential negative consequences of such a decision. Granting special legislation to revive a dissolved corporation undermines free market competition, sets a dangerous precedent for government intervention, and may burden taxpayers. It is crucial to prioritize the principles of limited government and free enterprise in order to foster a fair and prosperous economy.