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Insolvency Statistics in Canada—Fourth Quarter of 2012

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Definitions

Consumer:
An individual with more than 50 percent of total liabilities related to consumer goods and services.
Business:
Any commercial entity or organization other than an individual, or an individual who has incurred 50 percent or more of total liabilities as a result of operating a business.
Bankruptcy:
The state of a consumer or business that has made an assignment in bankruptcy or against whom a bankruptcy order has been made.
Proposal:
An offer to creditors to settle debts under conditions other than the existing terms. A proposal is a formal agreement under the Bankruptcy and Insolvency Act.
NAICS:
North American Industry Classification System.
Economic Region (ER):
Standard geographic units created for analysis of regional economic activity (Statistics Canada's geographical definitions of ERs).
Census Metropolitan Area (CMA):
Each census metropolitan area consists of one or more adjacent municipalities situated around a major urban core. To form a census metropolitan area, the urban core must have a population of at least 100,000 (Statistics Canada's geographical definitions of CMAs).
Table 1: Total Insolvencies
  Volume % Change 12-Month Period Ending
Q4 2012 Q3 2012 Q4 2011 Q3 2012 to Q4 2012 Q4 2011 to Q4 2012 12-31-2012 12-31-2011 % Change
Newfoundland and Labrador 402 428 460 -6.1 -12.6 1,769 2,107 -16.0
Bankruptcies 376 394 431 -4.6 -12.8 1,626 1,981 -17.9
Proposals 26 34 29 -23.5 -10.3 143 126 13.5
Prince Edward Island 171 151 139 13.2 23.0 635 637 -0.3
Bankruptcies 136 114 108 19.3 25.9 485 535 -9.3
Proposals 35 37 31 -5.4 12.9 150 102 47.1
Nova Scotia 1,043 1,032 1,076 1.1 -3.1 4,388 4,669 -6.0
Bankruptcies 751 763 823 -1.6 -8.7 3,307 3,682 -10.2
Proposals 292 269 253 8.6 15.4 1,081 987 9.5
New Brunswick 883 981 898 -10.0 -1.7 3,913 3,560 9.9
Bankruptcies 660 718 709 -8.1 -6.9 2,959 2,891 2.4
Proposals 223 263 189 -15.2 18.0 954 669 42.6
Quebec 9,569 8,836 9,350 8.3 2.3 37,944 37,895 0.1
Bankruptcies 6,363 6,087 6,616 4.5 -3.8 25,887 27,196 -4.8
Proposals 3,206 2,749 2,734 16.6 17.3 12,057 10,699 12.7
Ontario 11,755 11,561 12,931 1.7 -9.1 48,742 52,074 -6.4
Bankruptcies 5,951 5,846 6,711 1.8 -11.3 24,278 26,805 -9.4
Proposals 5,804 5,715 6,220 1.6 -6.7 24,464 25,269 -3.2
Manitoba 469 464 537 1.1 -12.7 1,926 2,229 -13.6
Bankruptcies 324 330 377 -1.8 -14.1 1,312 1,574 -16.6
Proposals 145 134 160 8.2 -9.4 614 655 -6.3
Saskatchewan 385 465 474 -17.2 -18.8 1,860 2,212 -15.9
Bankruptcies 221 278 287 -20.5 -23.0 1,080 1,376 -21.5
Proposals 164 187 187 -12.3 -12.3 780 836 -6.7
Alberta 2,221 2,243 2,448 -1.0 -9.3 9,514 10,381 -8.4
Bankruptcies 1,304 1,411 1,642 -7.6 -20.6 5,989 7,293 -17.9
Proposals 917 832 806 10.2 13.8 3,525 3,088 14.2
British Columbia 2,772 2,875 2,862 -3.6 -3.1 11,964 11,919 0.4
Bankruptcies 1,786 1,860 1,842 -4.0 -3.0 7,754 8,232 -5.8
Proposals 986 1,015 1,020 -2.9 -3.3 4,210 3,687 14.2
Northwest Territories 18 9 8 100.0 125.0 54 47 14.9
Bankruptcies 11 3 8 266.7 37.5 29 33 -12.1
Proposals 7 6 0 16.7 -- 25 14 78.6
Yukon 15 12 7 25.0 114.3 38 37 2.7
Bankruptcies 10 5 6 100.0 66.7 24 32 -25.0
Proposals 5 7 1 -28.6 400.0 14 5 180.0
Nunavut 1 2 0 -50.0 -- 4 7 -42.9
Bankruptcies 0 1 0 -100.0 -- 1 6 -83.3
Proposals 1 1 0 0.0 -- 3 1 200.0
Canada 29,704 29,059 31,190 2.2 -4.8 122,751 127,774 -3.9
Bankruptcies 17,893 17,810 19,560 0.5 -8.5 74,731 81,636 -8.5
Proposals 11,811 11,249 11,630 5.0 1.6 48,020 46,138 4.1
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Table 2: Insolvencies Filed by Consumers
  Volume % Change 12-Month Period Ending
Q4 2012 Q3 2012 Q4 2011 Q3 2012 to Q4 2012 Q4 2011 to Q4 2012 12-31-2012 12-31-2011 % Change
Newfoundland and Labrador 399 420 456 -5.0 -12.5 1,750 2,081 -15.9
Bankruptcies 373 390 429 -4.4 -13.1 1,611 1,957 -17.7
Proposals 26 30 27 -13.3 -3.7 139 124 12.1
Prince Edward Island 170 148 133 14.9 27.8 618 620 -0.3
Bankruptcies 135 111 102 21.6 32.4 472 520 -9.2
Proposals 35 37 31 -5.4 12.9 146 100 46.0
Nova Scotia 1,009 1,010 1,055 -0.1 -4.4 4,282 4,556 -6.0
Bankruptcies 724 747 805 -3.1 -10.1 3,221 3,587 -10.2
Proposals 285 263 250 8.4 14.0 1,061 969 9.5
New Brunswick 866 964 892 -10.2 -2.9 3,843 3,500 9.8
Bankruptcies 645 709 704 -9.0 -8.4 2,906 2,848 2.0
Proposals 221 255 188 -13.3 17.6 937 652 43.7
Quebec 9,081 8,357 8,802 8.7 3.2 35,925 35,768 0.4
Bankruptcies 6,002 5,726 6,210 4.8 -3.3 24,399 25,627 -4.8
Proposals 3,079 2,631 2,592 17.0 18.8 11,526 10,141 13.7
Ontario 11,432 11,249 12,531 1.6 -8.8 47,381 50,460 -6.1
Bankruptcies 5,696 5,606 6,405 1.6 -11.1 23,236 25,529 -9.0
Proposals 5,736 5,643 6,126 1.6 -6.4 24,145 24,931 -3.2
Manitoba 454 456 509 -0.4 -10.8 1,877 2,155 -12.9
Bankruptcies 312 322 353 -3.1 -11.6 1,276 1,514 -15.7
Proposals 142 134 156 6.0 -9.0 601 641 -6.2
Saskatchewan 364 432 446 -15.7 -18.4 1,731 2,055 -15.8
Bankruptcies 210 262 269 -19.8 -21.9 1,001 1,272 -21.3
Proposals 154 170 177 -9.4 -13.0 730 783 -6.8
Alberta 2,145 2,186 2,359 -1.9 -9.1 9,202 10,040 -8.3
Bankruptcies 1,255 1,364 1,575 -8.0 -20.3 5,759 7,029 -18.1
Proposals 890 822 784 8.3 13.5 3,443 3,011 14.3
British Columbia 2,706 2,806 2,804 -3.6 -3.5 11,696 11,676 0.2
Bankruptcies 1,744 1,811 1,794 -3.7 -2.8 7,562 8,040 -5.9
Proposals 962 995 1,010 -3.3 -4.8 4,134 3,636 13.7
Northwest Territories 18 9 8 100.0 125.0 53 45 17.8
Bankruptcies 11 3 8 266.7 37.5 29 33 -12.1
Proposals 7 6 0 16.7 -- 24 12 100.0
Yukon 15 12 7 25.0 114.3 37 36 2.8
Bankruptcies 10 5 6 100.0 66.7 23 31 -25.8
Proposals 5 7 1 -28.6 400.0 14 5 180.0
Nunavut 1 1 0 0.0 -- 3 7 -57.1
Bankruptcies 0 0 0 -- -- 0 6 -100.0
Proposals 1 1 0 0.0 -- 3 1 200.0
Canada 28,660 28,050 30,002 2.2 -4.5 118,398 122,999 -3.7
Bankruptcies 17,117 17,056 18,660 0.4 -8.3 71,495 77,993 -8.3
Proposals 11,543 10,994 11,342 5.0 1.8 46,903 45,006 4.2
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Table 3: Insolvencies Filed by Businesses
  Volume % Change 12-Month Period Ending
Q4 2012 Q3 2012 Q4 2011 Q3 2012 to Q4 2012 Q4 2011 to Q4 2012 12-31-2012 12-31-2011 % Change
Newfoundland and Labrador 3 8 4 -62.5 -25.0 19 26 -26.9
Bankruptcies 3 4 2 -25.0 50.0 15 24 -37.5
Proposals 0 4 2 -100.0 -100.0 4 2 100.0
Prince Edward Island 1 3 6 -66.7 -83.3 17 17 0.0
Bankruptcies 1 3 6 -66.7 -83.3 13 15 -13.3
Proposals 0 0 0 -- -- 4 2 100.0
Nova Scotia 34 22 21 54.5 61.9 106 113 -6.2
Bankruptcies 27 16 18 68.8 50.0 86 95 -9.5
Proposals 7 6 3 16.7 133.3 20 18 11.1
New Brunswick 17 17 6 0.0 183.3 70 60 16.7
Bankruptcies 15 9 5 66.7 200.0 53 43 23.3
Proposals 2 8 1 -75.0 100.0 17 17 0.0
Quebec 488 479 548 1.9 -10.9 2,019 2,127 -5.1
Bankruptcies 361 361 406 0.0 -11.1 1,488 1,569 -5.2
Proposals 127 118 142 7.6 -10.6 531 558 -4.8
Ontario 323 312 400 3.5 -19.3 1,361 1,614 -15.7
Bankruptcies 255 240 306 6.3 -16.7 1,042 1,276 -18.3
Proposals 68 72 94 -5.6 -27.7 319 338 -5.6
Manitoba 15 8 28 87.5 -46.4 49 74 -33.8
Bankruptcies 12 8 24 50.0 -50.0 36 60 -40.0
Proposals 3 0 4 -- -25.0 13 14 -7.1
Saskatchewan 21 33 28 -36.4 -25.0 129 157 -17.8
Bankruptcies 11 16 18 -31.3 -38.9 79 104 -24.0
Proposals 10 17 10 -41.2 0.0 50 53 -5.7
Alberta 76 57 89 33.3 -14.6 312 341 -8.5
Bankruptcies 49 47 67 4.3 -26.9 230 264 -12.9
Proposals 27 10 22 170.0 22.7 82 77 6.5
British Columbia 66 69 58 -4.3 13.8 268 243 10.3
Bankruptcies 42 49 48 -14.3 -12.5 192 192 0.0
Proposals 24 20 10 20.0 140.0 76 51 49.0
Northwest Territories 0 0 0 -- -- 1 2 -50.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 2 -50.0
Yukon 0 0 0 -- -- 1 1 0.0
Bankruptcies 0 0 0 -- -- 1 1 0.0
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 1 0 -100.0 -- 1 0 --
Bankruptcies 0 1 0 -100.0 -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 1,044 1,009 1,188 3.5 -12.1 4,353 4,775 -8.8
Bankruptcies 776 754 900 2.9 -13.8 3,236 3,643 -11.2
Proposals 268 255 288 5.1 -6.9 1,117 1,132 -1.3
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