Insolvency Statistics in Canada—December 2016

Highlights

Read the report Insolvency Statistics in Canada—December 2016.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 19.1 percent in December 2016 from the previous month. Bankruptcies decreased by 17.8 percent and proposals decreased by 20.4 percent.

The total number of insolvencies in December 2016 was 7.5 percent lower than the total number of insolvencies in December 2015. Consumer insolvencies decreased by 7.3 percent, while business insolvencies decreased by 11.9 percent.

For the 12-month period ending December 31, 2016, the total number of insolvencies increased by 3.2 percent compared with the 12-month period ending December 31, 2015.

Consumer insolvencies for the 12-month period ending December 31, 2016, increased by 3.5 percent compared with the 12-month period ending December 31, 2015. Consumer bankruptcies decreased by 0.1 percent, while consumer proposals increased by 7.4 percent. The proportion of proposals in consumer insolvencies increased to 49.7 percent during the 12-month period ending December 31, 2016, up from 47.9 percent during the 12-month period ending December 31, 2015. For the 12-month period ending December 31, 2016, consumer insolvency filings accounted for 97.0 percent of the total insolvency filings.

Business insolvencies for the 12-month period ending December 31, 2016, decreased by 6.3 percent compared with the 12-month period ending December 31, 2015. The two sectors that registered the biggest decrease in the number of insolvencies were manufacturing and construction. Mining and oil and gas extraction; and management of companies and enterprises experienced the biggest increase in insolvencies.

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

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