Insolvency Statistics in Canada—Second 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
Q2 2013 Q1 2013 Q2 2012 Q1 2013 to Q2 2013 Q2 2012 to Q2 2013 06-30-2013 06-30-2012 % Change
Newfoundland and Labrador 481 437 503 10.1 -4.4 1,748 1,922 -9.1
Bankruptcies 439 406 451 8.1 -2.7 1,615 1,779 -9.2
Proposals 42 31 52 35.5 -19.2 133 143 -7.0
Prince Edward Island 148 134 166 10.4 -10.8 604 606 -0.3
Bankruptcies 111 106 116 4.7 -4.3 467 464 0.6
Proposals 37 28 50 32.1 -26.0 137 142 -3.5
Nova Scotia 1,303 1,046 1,203 24.6 8.3 4,424 4,516 -2.0
Bankruptcies 932 746 940 24.9 -0.9 3,192 3,487 -8.5
Proposals 371 300 263 23.7 41.1 1,232 1,029 19.7
New Brunswick 1,039 906 1,033 14.7 0.6 3,809 3,846 -1.0
Bankruptcies 776 668 813 16.2 -4.6 2,822 2,998 -5.9
Proposals 263 238 220 10.5 19.5 987 848 16.4
Quebec 11,107 10,315 9,692 7.7 14.6 39,827 37,728 5.6
Bankruptcies 7,166 6,531 6,721 9.7 6.6 26,147 26,450 -1.1
Proposals 3,941 3,784 2,971 4.1 32.6 13,680 11,278 21.3
Ontario 12,327 11,036 13,070 11.7 -5.7 46,679 50,603 -7.8
Bankruptcies 6,279 5,290 6,522 18.7 -3.7 23,366 25,539 -8.5
Proposals 6,048 5,746 6,548 5.3 -7.6 23,313 25,064 -7.0
Manitoba 514 414 514 24.2 0.0 1,861 2,058 -9.6
Bankruptcies 340 273 342 24.5 -0.6 1,267 1,403 -9.7
Proposals 174 141 172 23.4 1.2 594 655 -9.3
Saskatchewan 479 420 488 14.0 -1.8 1,749 2,033 -14.0
Bankruptcies 281 263 288 6.8 -2.4 1,043 1,221 -14.6
Proposals 198 157 200 26.1 -1.0 706 812 -13.1
Alberta 2,281 2,238 2,485 1.9 -8.2 8,983 9,988 -10.1
Bankruptcies 1,308 1,323 1,592 -1.1 -17.8 5,346 6,634 -19.4
Proposals 973 915 893 6.3 9.0 3,637 3,354 8.4
British Columbia 3,295 2,909 3,214 13.3 2.5 11,851 12,162 -2.6
Bankruptcies 1,984 1,825 2,115 8.7 -6.2 7,455 7,982 -6.6
Proposals 1,311 1,084 1,099 20.9 19.3 4,396 4,180 5.2
Northwest Territories 11 9 9 22.2 22.2 47 47 0.0
Bankruptcies 6 5 5 20.0 20.0 25 32 -21.9
Proposals 5 4 4 25.0 25.0 22 15 46.7
Yukon 9 7 6 28.6 50.0 43 30 43.3
Bankruptcies 7 4 5 75.0 40.0 26 25 4.0
Proposals 2 3 1 -33.3 100.0 17 5 240.0
Nunavut 1 1 0 0.0 -- 5 3 66.7
Bankruptcies 0 1 0 -100.0 -- 2 1 100.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 32,995 29,872 32,383 10.5 1.9 121,630 125,542 -3.1
Bankruptcies 19,629 17,441 19,910 12.5 -1.4 72,773 78,015 -6.7
Proposals 13,366 12,431 12,473 7.5 7.2 48,857 47,527 2.8

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Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q2 2013 Q1 2013 Q2 2012 Q1 2013 to Q2 2013 Q2 2012 to Q2 2013 06-30-2013 06-30-2012 % Change
Newfoundland and Labrador 473 431 502 9.7 -5.8 1,723 1,905 -9.6
Bankruptcies 432 402 450 7.5 -4.0 1,597 1,764 -9.5
Proposals 41 29 52 41.4 -21.2 126 141 -10.6
Prince Edward Island 145 128 163 13.3 -11.0 591 583 1.4
Bankruptcies 110 100 114 10.0 -3.5 456 445 2.5
Proposals 35 28 49 25.0 -28.6 135 138 -2.2
Nova Scotia 1,275 1,017 1,179 25.4 8.1 4,311 4,427 -2.6
Bankruptcies 911 723 918 26.0 -0.8 3,105 3,412 -9.0
Proposals 364 294 261 23.8 39.5 1,206 1,015 18.8
New Brunswick 1,017 891 1,015 14.1 0.2 3,738 3,783 -1.2
Bankruptcies 759 657 800 15.5 -5.1 2,770 2,949 -6.1
Proposals 258 234 215 10.3 20.0 968 834 16.1
Quebec 10,543 9,770 9,161 7.9 15.1 37,751 35,671 5.8
Bankruptcies 6,768 6,134 6,328 10.3 7.0 24,630 24,948 -1.3
Proposals 3,775 3,636 2,833 3.8 33.3 13,121 10,723 22.4
Ontario 11,988 10,734 12,731 11.7 -5.8 45,403 49,117 -7.6
Bankruptcies 6,024 5,054 6,275 19.2 -4.0 22,380 24,396 -8.3
Proposals 5,964 5,680 6,456 5.0 -7.6 23,023 24,721 -6.9
Manitoba 502 399 505 25.8 -0.6 1,811 1,990 -9.0
Bankruptcies 330 259 337 27.4 -2.1 1,223 1,350 -9.4
Proposals 172 140 168 22.9 2.4 588 640 -8.1
Saskatchewan 447 386 452 15.8 -1.1 1,629 1,887 -13.7
Bankruptcies 260 243 264 7.0 -1.5 975 1,118 -12.8
Proposals 187 143 188 30.8 -0.5 654 769 -15.0
Alberta 2,235 2,183 2,394 2.4 -6.6 8,749 9,641 -9.3
Bankruptcies 1,273 1,287 1,522 -1.1 -16.4 5,179 6,369 -18.7
Proposals 962 896 872 7.4 10.3 3,570 3,272 9.1
British Columbia 3,226 2,833 3,160 13.9 2.1 11,571 11,909 -2.8
Bankruptcies 1,932 1,768 2,070 9.3 -6.7 7,255 7,786 -6.8
Proposals 1,294 1,065 1,090 21.5 18.7 4,316 4,123 4.7
Northwest Territories 11 9 8 22.2 37.5 47 46 2.2
Bankruptcies 6 5 5 20.0 20.0 25 32 -21.9
Proposals 5 4 3 25.0 66.7 22 14 57.1
Yukon 9 5 5 80.0 80.0 41 28 46.4
Bankruptcies 7 2 4 250.0 75.0 24 23 4.3
Proposals 2 3 1 -33.3 100.0 17 5 240.0
Nunavut 1 1 0 0.0 -- 4 3 33.3
Bankruptcies 0 1 0 -100.0 -- 1 1 0.0
Proposals 1 0 0 -- -- 3 2 50.0
Canada 31,872 28,787 31,275 10.7 1.9 117,369 120,990 -3.0
Bankruptcies 18,812 16,635 19,087 13.1 -1.4 69,620 74,593 -6.7
Proposals 13,060 12,152 12,188 7.5 7.2 47,749 46,397 2.9

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Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q2 2013 Q1 2013 Q2 2012 Q1 2013 to Q2 2013 Q2 2012 to Q2 2013 06-30-2013 06-30-2012 % Change
Newfoundland and Labrador 8 6 1 33.3 700.0 25 17 47.1
Bankruptcies 7 4 1 75.0 600.0 18 15 20.0
Proposals 1 2 0 -50.0 -- 7 2 250.0
Prince Edward Island 3 6 3 -50.0 0.0 13 23 -43.5
Bankruptcies 1 6 2 -83.3 -50.0 11 19 -42.1
Proposals 2 0 1 -- 100.0 2 4 -50.0
Nova Scotia 28 29 24 -3.4 16.7 113 89 27.0
Bankruptcies 21 23 22 -8.7 -4.5 87 75 16.0
Proposals 7 6 2 16.7 250.0 26 14 85.7
New Brunswick 22 15 18 46.7 22.2 71 63 12.7
Bankruptcies 17 11 13 54.5 30.8 52 49 6.1
Proposals 5 4 5 25.0 0.0 19 14 35.7
Quebec 564 545 531 3.5 6.2 2,076 2,057 0.9
Bankruptcies 398 397 393 0.3 1.3 1,517 1,502 1.0
Proposals 166 148 138 12.2 20.3 559 555 0.7
Ontario 339 302 339 12.3 0.0 1,276 1,486 -14.1
Bankruptcies 255 236 247 8.1 3.2 986 1,143 -13.7
Proposals 84 66 92 27.3 -8.7 290 343 -15.5
Manitoba 12 15 9 -20.0 33.3 50 68 -26.5
Bankruptcies 10 14 5 -28.6 100.0 44 53 -17.0
Proposals 2 1 4 100.0 -50.0 6 15 -60.0
Saskatchewan 32 34 36 -5.9 -11.1 120 146 -17.8
Bankruptcies 21 20 24 5.0 -12.5 68 103 -34.0
Proposals 11 14 12 -21.4 -8.3 52 43 20.9
Alberta 46 55 91 -16.4 -49.5 234 347 -32.6
Bankruptcies 35 36 70 -2.8 -50.0 167 265 -37.0
Proposals 11 19 21 -42.1 -47.6 67 82 -18.3
British Columbia 69 76 54 -9.2 27.8 280 253 10.7
Bankruptcies 52 57 45 -8.8 15.6 200 196 2.0
Proposals 17 19 9 -10.5 88.9 80 57 40.4
Northwest Territories 0 0 1 -- -100.0 0 1 -100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 1 -- -100.0 0 1 -100.0
Yukon 0 2 1 -100.0 -100.0 2 2 0.0
Bankruptcies 0 2 1 -100.0 -100.0 2 2 0.0
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 1,123 1,085 1,108 3.5 1.4 4,261 4,552 -6.4
Bankruptcies 817 806 823 1.4 -0.7 3,153 3,422 -7.9
Proposals 306 279 285 9.7 7.4 1,108 1,130 -1.9
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