What is forfeiture to the Crown and how is it different from bankruptcy?

Forfeiture to the Crown and bankruptcy are entirely different legal processes that deal with different problems. Forfeiture, under Ontario's Forfeited Corporate Property Act, addresses what happens to a corporation's leftover, undistributed property after it has already been dissolved and no longer exists — since there's no longer an owner for that property, it vests in the Crown. It isn't a process for dealing with debt or insolvency; it's simply the default consequence of property being left behind by a corporation that has ceased to exist.

Bankruptcy, by contrast, is a federal insolvency process for a debtor, corporate or personal, that's still very much in existence but unable to pay its debts as they come due. It involves a licensed insolvency professional administering the debtor's assets for the benefit of creditors under a structured process, and the corporation typically continues to exist through that process until it's eventually wound up.

In short: bankruptcy is how an existing, financially distressed corporation's affairs get sorted out among its creditors; forfeiture is what happens to property a corporation left behind after it has already stopped existing. They can sometimes overlap in outcome but are governed by completely different frameworks.