Highlights
Insolvency Statistics in Canada — December 2009

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 11.1 percent in December 2009 from the previous month. Bankruptcies decreased by 8.6 percent whereas proposals decreased by 16.6 percent. Over the last 20 years, monthly variations between the months of November and December have been negative. Total number of insolvencies filed in the month of December has been lower than the number filed in November.

In comparison with the same month last year, the total number of insolvencies in December 2009 was 7.2 percent higher than the total number of insolvencies in December 2008. Consumer insolvencies have increased by 8.5 percent while business insolvencies have decreased by 15.7 percent.

For the 12-month period ending December 31, 2009, total insolvencies increased by 28.6 percent compared with the 12-month period ending December 31, 2008. This is entirely due to an increase in consumer insolvencies.

Business insolvencies for the 12-month period ending December 31, 2009, fell by 9.6 percent compared with the 12-month period ending December 31, 2008. A significant reduction in insolvencies in the agriculture, forestry, fishing and hunting; construction; and transportation and warehousing sectors contributed to this decrease.

In December, seven Companies’ Creditors Arrangement Act (CCAA) proceedings were filed.  Please refer to the CCAA Statistics in Canada — Fourth Quarter 2009 report for additional details. Note: The Insolvency Statistics in Canada – December 2009 Report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Read the reports:

• Insolvency Statistics in Canada – December 2009,
• CCAA Statistics in Canada - Fourth Quarter 2009.