Highlights
Insolvency Statistics in Canada—February 2013
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 0.1 percent in February 2013 from the previous month. Bankruptcies decreased by 0.9 percent, whereas proposals increased by 1.6 percent.
The total number of insolvencies in February 2013 was 10.8 percent lower than the total number of insolvencies in February 2012. Consumer insolvencies have decreased by 11.2 percent, while business insolvencies have decreased by 1.7 percent.
For the 12-month period ending , the total number of insolvencies decreased by 4.6 percent compared with the 12-month period ending .
Consumer insolvencies for the 12-month period ending , decreased by 4.3 percent compared with the 12-month period ending . Consumer bankruptcies decreased by 8.6 percent, while consumer proposals increased by 3.0 percent. The proportion of proposals in consumer insolvencies increased to 39.9 percent during the 12-month period ending , up from 37.1 percent during the 12-month period ending . For the 12-month period ending , 96.5 percent of total insolvencies were filed by consumers.
Business insolvencies for the 12-month period ending , fell by 10.9 percent compared with the 12-month period ending . 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.
Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in February 2013. Please refer to the CCAA Records for additional details. Note: The Insolvency Statistics in Canada—February 2013 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—February 2013.
