The insolvency, bankruptcy, termination of activities, sale of all or of a substantial portion of the property, subject to the approval of the shareholders, and absence of corporate organization do not automatically end the existence of the business corporation.
"The corporation, an intangible and incorporeal being, exists only by virtue of the fact of a sovereign authority and continues to exist until this authority removes him its recognition.? Lambert v. Minerve Canada, Co. of Airline Transport Inc.[1998] QJ No. 1941 (CA)
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