Highlights
Insolvency Statistics in Canada—March 2012

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 5.4 percent in March 2012 from the previous month. Bankruptcies increased by 4.4 percent, whereas proposals increased by 7.0 percent.

The total number of insolvencies in March 2012 was 9.7 percent lower than the total number of insolvencies in March 2011. Consumer insolvencies have decreased by 9.2 percent, while business insolvencies have decreased by 22.1 percent.

For the 12-month period ending March 31, 2012, the total number of insolvencies decreased by 8.2 percent compared with the 12-month period ending March 31, 2011.

Consumer insolvencies for the 12-month period ending March 31, 2012, decreased by 8.2 percent compared with the 12-month period ending March 31, 2011. Consumer bankruptcies decreased by 14.7 percent, while consumer proposals increased by 5.0 percent. The proportion of proposals in consumer insolvencies increased to 37.4 percent during the 12-month period ending March 31, 2012, up from 32.7 percent during the 12-month period ending March 31, 2011. For the 12-month period ending March 31, 2012, 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending March 31, 2012, fell by 6.9 percent compared with the 12-month period ending March 31, 2011. The three sectors that registered the biggest decrease in the number of insolvencies were retail trade; real estate and rental and leasing; and construction.

Four Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in March 2012. Please refer to CCAA Statistics in Canada—First Quarter of 2012. Note: The Insolvency Statistics in Canada—March 2012 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Read the report Insolvency Statistics in Canada—March 2012.