Insolvency Statistics in Canada—First Quarter of 2013

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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
Province Volume % Change 12-Month Period Ending
Q1 2013 Q4 2012 Q1 2012 Q4 2012 to Q1 2013 Q1 2012 to Q1 2013 03-31-2013 03-31-2012 % Change
Newfoundland and Labrador 437 402 436 8.7 0.2 1,770 1,992 -11.1
Bankruptcies 406 376 405 8.0 0.2 1,627 1,868 -12.9
Proposals 31 26 31 19.2 0.0 143 124 15.3
Prince Edward Island 134 171 147 -21.6 -8.8 622 602 3.3
Bankruptcies 106 136 119 -22.1 -10.9 472 489 -3.5
Proposals 28 35 28 -20.0 0.0 150 113 32.7
Nova Scotia 1,046 1,043 1,110 0.3 -5.8 4,324 4,492 -3.7
Bankruptcies 746 751 853 -0.7 -12.5 3,200 3,521 -9.1
Proposals 300 292 257 2.7 16.7 1,124 971 15.8
New Brunswick 906 883 1,016 2.6 -10.8 3,803 3,790 0.3
Bankruptcies 668 660 768 1.2 -13.0 2,859 3,015 -5.2
Proposals 238 223 248 6.7 -4.0 944 775 21.8
Quebec 10,315 9,569 9,847 7.8 4.8 38,412 37,824 1.6
Bankruptcies 6,531 6,363 6,716 2.6 -2.8 25,702 26,855 -4.3
Proposals 3,784 3,206 3,131 18.0 20.9 12,710 10,969 15.9
Ontario 11,036 11,755 12,356 -6.1 -10.7 47,422 51,277 -7.5
Bankruptcies 5,290 5,951 5,959 -11.1 -11.2 23,609 26,197 -9.9
Proposals 5,746 5,804 6,397 -1.0 -10.2 23,813 25,080 -5.1
Manitoba 414 469 479 -11.7 -13.6 1,861 2,108 -11.7
Bankruptcies 273 324 316 -15.7 -13.6 1,269 1,470 -13.7
Proposals 141 145 163 -2.8 -13.5 592 638 -7.2
Saskatchewan 420 385 522 9.1 -19.5 1,758 2,132 -17.5
Bankruptcies 263 221 293 19.0 -10.2 1,050 1,297 -19.0
Proposals 157 164 229 -4.3 -31.4 708 835 -15.2
Alberta 2,238 2,221 2,565 0.8 -12.7 9,187 10,249 -10.4
Bankruptcies 1,323 1,304 1,682 1.5 -21.3 5,630 7,003 -19.6
Proposals 915 917 883 -0.2 3.6 3,557 3,246 9.6
British Columbia 2,909 2,772 3,103 4.9 -6.3 11,770 11,955 -1.5
Bankruptcies 1,825 1,786 1,993 2.2 -8.4 7,586 7,976 -4.9
Proposals 1,084 986 1,110 9.9 -2.3 4,184 3,979 5.2
Northwest Territories 9 18 18 -50.0 -50.0 45 50 -10.0
Bankruptcies 5 11 10 -54.5 -50.0 24 35 -31.4
Proposals 4 7 8 -42.9 -50.0 21 15 40.0
Yukon 7 15 5 -53.3 40.0 40 32 25.0
Bankruptcies 4 10 4 -60.0 0.0 24 28 -14.3
Proposals 3 5 1 -40.0 200.0 16 4 300.0
Nunavut 1 1 1 0.0 0.0 4 6 -33.3
Bankruptcies 1 0 0 -- -- 2 4 -50.0
Proposals 0 1 1 -100.0 -100.0 2 2 0.0
Canada 29,872 29,704 31,605 0.6 -5.5 121,018 126,509 -4.3
Bankruptcies 17,441 17,893 19,118 -2.5 -8.8 73,054 79,758 -8.4
Proposals 12,431 11,811 12,487 5.2 -0.4 47,964 46,751 2.6

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Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q1 2013 Q4 2012 Q1 2012 Q4 2012 to Q1 2013 Q1 2012 to Q1 2013 03-31-2013 03-31-2012 % Change
Newfoundland and Labrador 431 399 429 8.0 0.5 1,752 1,969 -11.0
Bankruptcies 402 373 398 7.8 1.0 1,615 1,847 -12.6
Proposals 29 26 31 11.5 -6.5 137 122 12.3
Prince Edward Island 128 170 137 -24.7 -6.6 609 578 5.4
Bankruptcies 100 135 112 -25.9 -10.7 460 470 -2.1
Proposals 28 35 25 -20.0 12.0 149 108 38.0
Nova Scotia 1,017 1,009 1,084 0.8 -6.2 4,215 4,394 -4.1
Bankruptcies 723 724 832 -0.1 -13.1 3,112 3,441 -9.6
Proposals 294 285 252 3.2 16.7 1,103 953 15.7
New Brunswick 891 866 998 2.9 -10.7 3,736 3,725 0.3
Bankruptcies 657 645 752 1.9 -12.6 2,811 2,963 -5.1
Proposals 234 221 246 5.9 -4.9 925 762 21.4
Quebec 9,770 9,081 9,326 7.6 4.8 36,369 35,726 1.8
Bankruptcies 6,134 6,002 6,343 2.2 -3.3 24,190 25,323 -4.5
Proposals 3,636 3,079 2,983 18.1 21.9 12,179 10,403 17.1
Ontario 10,734 11,432 11,969 -6.1 -10.3 46,146 49,706 -7.2
Bankruptcies 5,054 5,696 5,659 -11.3 -10.7 22,631 24,960 -9.3
Proposals 5,680 5,736 6,310 -1.0 -10.0 23,515 24,746 -5.0
Manitoba 399 454 462 -12.1 -13.6 1,814 2,038 -11.0
Bankruptcies 259 312 305 -17.0 -15.1 1,230 1,413 -13.0
Proposals 140 142 157 -1.4 -10.8 584 625 -6.6
Saskatchewan 386 364 483 6.0 -20.1 1,634 1,987 -17.8
Bankruptcies 243 210 265 15.7 -8.3 979 1,193 -17.9
Proposals 143 154 218 -7.1 -34.4 655 794 -17.5
Alberta 2,183 2,145 2,477 1.8 -11.9 8,908 9,910 -10.1
Bankruptcies 1,287 1,255 1,618 2.5 -20.5 5,428 6,753 -19.6
Proposals 896 890 859 0.7 4.3 3,480 3,157 10.2
British Columbia 2,833 2,706 3,024 4.7 -6.3 11,505 11,688 -1.6
Bankruptcies 1,768 1,744 1,937 1.4 -8.7 7,393 7,773 -4.9
Proposals 1,065 962 1,087 10.7 -2.0 4,112 3,915 5.0
Northwest Territories 9 18 18 -50.0 -50.0 44 50 -12.0
Bankruptcies 5 11 10 -54.5 -50.0 24 35 -31.4
Proposals 4 7 8 -42.9 -50.0 20 15 33.3
Yukon 5 15 5 -66.7 0.0 37 31 19.4
Bankruptcies 2 10 4 -80.0 -50.0 21 27 -22.2
Proposals 3 5 1 -40.0 200.0 16 4 300.0
Nunavut 1 1 1 0.0 0.0 3 6 -50.0
Bankruptcies 1 0 0 -- -- 1 4 -75.0
Proposals 0 1 1 -100.0 -100.0 2 2 0.0
Canada 28,787 28,660 30,413 0.4 -5.3 116,772 121,808 -4.1
Bankruptcies 16,635 17,117 18,235 -2.8 -8.8 69,895 76,202 -8.3
Proposals 12,152 11,543 12,178 5.3 -0.2 46,877 45,606 2.8

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Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q1 2013 Q4 2012 Q1 2012 Q4 2012 to Q1 2013 Q1 2012 to Q1 2013 03-31-2013 03-31-2012 % Change
Newfoundland and Labrador 6 3 7 100.0 -14.3 18 23 -21.7
Bankruptcies 4 3 7 33.3 -42.9 12 21 -42.9
Proposals 2 0 0 -- -- 6 2 200.0
Prince Edward Island 6 1 10 500.0 -40.0 13 24 -45.8
Bankruptcies 6 1 7 500.0 -14.3 12 19 -36.8
Proposals 0 0 3 -- -100.0 1 5 -80.0
Nova Scotia 29 34 26 -14.7 11.5 109 98 11.2
Bankruptcies 23 27 21 -14.8 9.5 88 80 10.0
Proposals 6 7 5 -14.3 20.0 21 18 16.7
New Brunswick 15 17 18 -11.8 -16.7 67 65 3.1
Bankruptcies 11 15 16 -26.7 -31.3 48 52 -7.7
Proposals 4 2 2 100.0 100.0 19 13 46.2
Quebec 545 488 521 11.7 4.6 2,043 2,098 -2.6
Bankruptcies 397 361 373 10.0 6.4 1,512 1,532 -1.3
Proposals 148 127 148 16.5 0.0 531 566 -6.2
Ontario 302 323 387 -6.5 -22.0 1,276 1,571 -18.8
Bankruptcies 236 255 300 -7.5 -21.3 978 1,237 -20.9
Proposals 66 68 87 -2.9 -24.1 298 334 -10.8
Manitoba 15 15 17 0.0 -11.8 47 70 -32.9
Bankruptcies 14 12 11 16.7 27.3 39 57 -31.6
Proposals 1 3 6 -66.7 -83.3 8 13 -38.5
Saskatchewan 34 21 39 61.9 -12.8 124 145 -14.5
Bankruptcies 20 11 28 81.8 -28.6 71 104 -31.7
Proposals 14 10 11 40.0 27.3 53 41 29.3
Alberta 55 76 88 -27.6 -37.5 279 339 -17.7
Bankruptcies 36 49 64 -26.5 -43.8 202 250 -19.2
Proposals 19 27 24 -29.6 -20.8 77 89 -13.5
British Columbia 76 66 79 15.2 -3.8 265 267 -0.7
Bankruptcies 57 42 56 35.7 1.8 193 203 -4.9
Proposals 19 24 23 -20.8 -17.4 72 64 12.5
Northwest Territories 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 1 0 --
Yukon 2 0 0 -- -- 3 1 200.0
Bankruptcies 2 0 0 -- -- 3 1 200.0
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 0 -- -- 1 0 --
Bankruptcies 0 0 0 -- -- 1 0 --
Proposals 0 0 0 -- -- 0 0 --
Canada 1,085 1,044 1,192 3.9 -9.0 4,246 4,701 -9.7
Bankruptcies 806 776 883 3.9 -8.7 3,159 3,556 -11.2
Proposals 279 268 309 4.1 -9.7 1,087 1,145 -5.1
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