Insolvency Statistics in Canada—December 2015

Highlights

Read the report Insolvency Statistics in Canada—December 2015.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 5.5 percent in December 2015 from the previous month. Bankruptcies decreased by 1.8 percent and proposals decreased by 9.5 percent.

The total number of insolvencies in December 2015 was 5.1 percent higher than the total number of insolvencies in December 2014. Consumer insolvencies increased by 5.7 percent, while business insolvencies decreased by 7.8 percent.

For the 12-month period ending December 31, 2015, the total number of insolvencies increased by 2.8 percent compared with the 12-month period ending December 31, 2014.

Consumer insolvencies for the 12-month period ending December 31, 2015, increased by 3.0 percent compared with the 12-month period ending December 31, 2014. Consumer bankruptcies decreased by 2.2 percent, while consumer proposals increased by 9.4 percent. The proportion of proposals in consumer insolvencies increased to 47.9 percent during the 12-month period ending December 31, 2015, up from 45.1 percent during the 12-month period ending December 31, 2014. For the 12-month period ending December 31, 2015, consumer insolvency filings accounted for 96.7 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending December 31, 2015, decreased by 2.7 percent compared with the 12-month period ending December 31, 2014. The two sectors that registered the biggest decrease in the number of insolvencies were transportation and warehousing; and administrative and support, waste management and remediation services. Construction experienced the biggest increase in insolvencies.

Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in December 2015. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—December 2015 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 2015.

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