Highlights
Insolvency Statistics in Canada—December 2012

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 24.7 percent in December 2012 from the previous month. Bankruptcies decreased by 23.5 percent, whereas proposals decreased by 26.4 percent.

The total number of insolvencies in December 2012 was 16.2 percent lower than the total number of insolvencies in December 2011. Consumer insolvencies have decreased by 16.3 percent, while business insolvencies have decreased by 14.4 percent.

For the 12-month period ending December 31, 2012, the total number of insolvencies decreased by 3.9 percent compared with the 12-month period ending December 31, 2011.

Consumer insolvencies for the 12-month period ending December 31, 2012, decreased by 3.7 percent compared with the 12-month period ending December 31, 2011. Consumer bankruptcies decreased by 8.3 percent, while consumer proposals increased by 4.2 percent. The proportion of proposals in consumer insolvencies increased to 39.6 percent during the 12-month period ending December 31, 2012, up from 36.6 percent during the 12-month period ending December 31, 2011. For the 12-month period ending December 31, 2012, 96.5 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending December 31, 2012, fell by 8.8 percent compared with the 12-month period ending December 31, 2011. The three sectors that registered the biggest decrease in the number of insolvencies were manufacturing; retail trade; and transportation and warehousing, whereas the construction sector had the biggest rise in insolvencies.

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