Highlights
Insolvency Statistics in Canada—March 2013

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 8.8 percent in March 2013 from the previous month. Bankruptcies increased by 7.6 percent, whereas proposals increased by 10.5 percent.

The total number of insolvencies in March 2013 was 7.9 percent lower than the total number of insolvencies in March 2012. Consumer insolvencies have decreased by 7.8 percent, while business insolvencies have decreased by 11.7 percent.

For the 12-month period ending March 31, 2013, the total number of insolvencies decreased by 4.3 percent compared with the 12-month period ending March 31, 2012.

Consumer insolvencies for the 12-month period ending March 31, 2013, decreased by 4.1 percent compared with the 12-month period ending March 31, 2012. Consumer bankruptcies decreased by 8.3 percent, while consumer proposals increased by 2.8 percent. The proportion of proposals in consumer insolvencies increased to 40.1 percent during the 12-month period ending March 31, 2013, up from 37.4 percent during the 12-month period ending March 31, 2012. For the 12-month period ending March 31, 2013, 96.5 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending March 31, 2013, fell by 9.7 percent compared with the 12-month period ending March 31, 2012. The three sectors that registered the biggest decrease in the number of insolvencies were manufacturing; retail trade; and transportation and warehousing, whereas the mining and oil and gas extraction sector had the biggest rise in insolvencies.

Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in March 2013. Please refer to the CCAA Records for additional details. Note: The Insolvency Statistics in Canada — March 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—March 2013.