Highlights
Insolvency Statistics in Canada—April 2012

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 6.1 percent in April 2012 from the previous month. Bankruptcies decreased by 2.6 percent, whereas proposals decreased by 11.4 percent.

The total number of insolvencies in April 2012 was 5.2 percent lower than the total number of insolvencies in April 2011. Consumer insolvencies have decreased by 5.0 percent, while business insolvencies have decreased by 9.5 percent.

For the 12-month period ending April 30, 2012, the total number of insolvencies decreased by 7.5 percent compared with the 12-month period ending April 30, 2011.

Consumer insolvencies for the 12-month period ending April 30, 2012, decreased by 7.6 percent compared with the 12-month period ending April 30, 2011. Consumer bankruptcies decreased by 14.0 percent, while consumer proposals increased by 5.3 percent. The proportion of proposals in consumer insolvencies increased to 37.7 percent during the 12-month period ending April 30, 2012, up from 33.1 percent during the 12-month period ending April 30, 2011. For the 12-month period ending April 30, 2012, 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending April 30, 2012, fell by 4.7 percent compared with the 12-month period ending April 30, 2011. The three sectors that registered the biggest decrease in the number of insolvencies were retail trade; real estate and rental and leasing; and transportation and warehousing, whereas the accommodation and food services sector had the biggest rise in insolvencies.

Five Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in April 2012. Please refer to the CCAA Records for additional details. Note: The Insolvency Statistics in Canada—April 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—April 2012.