Canada · main focus

Closed and closing companies in Canada: who can license the records

Records only become an asset for creditors when someone with authority can license them. Here is how that works in Canada, in plain terms.

Who usually decides: Licensed insolvency trustees, receivers and court-appointed monitors.

While the company is in a formal process

In bankruptcy, the licensed insolvency trustee holds and realises the company's property (Bankruptcy and Insolvency Act).
In receiverships and CCAA restructurings, asset sales usually need court approval (Companies' Creditors Arrangement Act, s.36).

After dissolution or deregistration

When a federal corporation is dissolved, property it had not disposed of generally vests in the Crown (Canada Business Corporations Act, s.228). Provincial laws are similar.
Revival of the corporation may be possible before anything can be licensed.

Personal data

PIPEDA, and provincial laws in Quebec, British Columbia and Alberta, continue to apply to personal information in the records.
PIPEDA allows limited sharing for business transactions only under conditions (s.7.2), so take advice before any sample leaves your hands.

Where to check status

The Office of the Superintendent of Bankruptcy lists insolvency records; Corporations Canada and provincial registries show status.

micro1 lists Canada

Country: Canada is one of ten countries on micro1's defunct-company track company.micro1.ai/get-started · 15 Nov 2026
Size: 30+ peak employees company.micro1.ai/get-started · 15 Nov 2026
Language: English company.micro1.ai/get-started · 15 Nov 2026

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General information, not legal advice. Insolvency and privacy rules depend on the facts and the province. Take advice before agreeing anything.