Insolvency Statistics in Canada—October 2016

Highlights

Read the report Insolvency Statistics in Canada—October 2016.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 2.9 percent in October 2016 from the previous month. Bankruptcies decreased by 1.6 percent and proposals decreased by 4.2 percent.

The total number of insolvencies in October 2016 was 2.0 percent lower than the total number of insolvencies in October 2015. Consumer insolvencies decreased by 1.8 percent, while business insolvencies decreased by 6.7 percent.

For the 12-month period ending October 31, 2016, the total number of insolvencies increased by 4.1 percent compared with the 12-month period ending October 31, 2015.

Consumer insolvencies for the 12-month period ending October 31, 2016, increased by 4.4 percent compared with the 12-month period ending October 31, 2015. Consumer bankruptcies increased by 0.5 percent, while consumer proposals increased by 8.7 percent. The proportion of proposals in consumer insolvencies increased to 49.4 percent during the 12-month period ending October 31, 2016, up from 47.4 percent during the 12-month period ending October 31, 2015. For the 12-month period ending October 31, 2016, consumer insolvency filings accounted for 97.0 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending October 31, 2016, decreased by 5.3 percent compared with the 12-month period ending October 31, 2015. The two sectors that registered the biggest decrease in the number of insolvencies were manufacturing; and other services (except public administration). Mining and oil and gas extraction; and real estate and rental and leasing experienced the biggest increase in insolvencies.

Five Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in October 2016. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—October 2016 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—October 2016.

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