Insolvency Statistics in Canada—December 2014

Highlights

Read the report Insolvency Statistics in Canada—December 2014

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 3.9 percent in December 2014 from the previous month. Bankruptcies decreased by 2.5 percent and proposals decreased by 5.5 percent.

The total number of insolvencies in December 2014 was 10.7 percent higher than the total number of insolvencies in December 2013. Consumer insolvencies increased by 11.1 percent, while business insolvencies increased by 1.4 percent.

For the 12-month period ending December 31, 2014, the total number of insolvencies decreased by 0.6 percent compared with the 12-month period ending December 31, 2013.

Consumer insolvencies for the 12-month period ending December 31, 2014, decreased by 0.5 percent compared with the 12-month period ending December 31, 2013. Consumer bankruptcies decreased by 6.3 percent, while consumer proposals increased by 7.6 percent. The proportion of proposals in consumer insolvencies increased to 45.1 percent during the 12-month period ending December 31, 2014, up from 41.7 percent during the 12-month period ending December 31, 2013. For the 12-month period ending December 31, 2014, consumer insolvency filings accounted for 96.5 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending December 31, 2014, decreased by 1.4 percent compared with the 12-month period ending December 31, 2013. The two sectors that registered the biggest decrease in the number of insolvencies were agriculture, forestry, fishing and hunting; and other services (except public administration), whereas transportation and warehousing; and health care and social assistance experienced the biggest increase in insolvencies.

Two Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in December 2014. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—December 2014 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 2014

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