Can creditors still make claims against a corporation after it has been dissolved in Ontario?

Dissolution doesn't automatically wipe out a corporation's debts, and creditors aren't necessarily out of luck just because the corporation no longer legally exists. The Business Corporations Act allows a creditor, or another interested party, to apply to have a dissolved corporation revived, which restores its existence retroactively for purposes like allowing a claim to be properly brought or continued against it — without revival, there's no longer a legal entity to sue in the ordinary way.

In some circumstances, a creditor may also be able to pursue former shareholders who received corporate property on dissolution, but generally only up to the value of what those shareholders actually received, rather than for the full amount of the debt regardless of what was distributed. This isn't the same as suing the corporation directly and depends heavily on the specific facts.

Because pursuing a dissolved debtor corporation usually means dealing with revival first, and ordinary time limits on claims still run in the background, creditors who discover a debtor corporation has been dissolved should get advice promptly rather than assuming the debt has simply evaporated.