Insolvency Statistics in Canada—Third 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
Q3 2013 Q2 2013 Q3 2012 Q2 2013 to Q3 2013 Q3 2012 to Q3 2013 09-30-2013 09-30-2012 % Change
Newfoundland and Labrador 414 481 428 −13.9 −3.3 1,734 1,827 −5.1
Bankruptcies 368 439 394 −16.2 −6.6 1,589 1,681 −5.5
Proposals 46 42 34 9.5 35.3 145 146 −0.7
Prince Edward Island 188 148 151 27.0 24.5 641 603 6.3
Bankruptcies 127 111 114 14.4 11.4 480 457 5.0
Proposals 61 37 37 64.9 64.9 161 146 10.3
Nova Scotia 1,278 1,303 1,032 −1.9 23.8 4,670 4,421 5.6
Bankruptcies 864 932 763 −7.3 13.2 3,293 3,379 −2.5
Proposals 414 371 269 11.6 53.9 1,377 1,042 32.1
New Brunswick 1,077 1,039 981 3.7 9.8 3,905 3,928 −0.6
Bankruptcies 753 776 718 −3.0 4.9 2,857 3,008 −5.0
Proposals 324 263 263 23.2 23.2 1,048 920 13.9
Quebec 10,275 11,107 8,836 −7.5 16.3 41,266 37,725 9.4
Bankruptcies 6,687 7,166 6,087 −6.7 9.9 26,747 26,140 2.3
Proposals 3,588 3,941 2,749 −9.0 30.5 14,519 11,585 25.3
Ontario 11,031 12,327 11,561 −10.5 −4.6 46,149 49,918 −7.6
Bankruptcies 5,553 6,279 5,846 −11.6 −5.0 23,073 25,038 −7.8
Proposals 5,478 6,048 5,715 −9.4 −4.1 23,076 24,880 −7.3
Manitoba 491 514 464 −4.5 5.8 1,888 1,994 −5.3
Bankruptcies 316 340 330 −7.1 −4.2 1,253 1,365 −8.2
Proposals 175 174 134 0.6 30.6 635 629 1.0
Saskatchewan 468 479 465 −2.3 0.6 1,752 1,949 −10.1
Bankruptcies 300 281 278 6.8 7.9 1,065 1,146 −7.1
Proposals 168 198 187 −15.2 −10.2 687 803 −14.4
Alberta 2,017 2,281 2,243 −11.6 −10.1 8,757 9,741 −10.1
Bankruptcies 1,168 1,308 1,411 −10.7 −17.2 5,103 6,327 −19.3
Proposals 849 973 832 −12.7 2.0 3,654 3,414 7.0
British Columbia 2,918 3,295 2,875 −11.4 1.5 11,894 12,054 −1.3
Bankruptcies 1,715 1,984 1,860 −13.6 −7.8 7,310 7,810 −6.4
Proposals 1,203 1,311 1,015 −8.2 18.5 4,584 4,244 8.0
Northwest Territories 13 11 9 18.2 44.4 51 44 15.9
Bankruptcies 9 6 3 50.0 200.0 31 26 19.2
Proposals 4 5 6 −20.0 −33.3 20 18 11.1
Yukon 4 9 12 −55.6 −66.7 35 30 16.7
Bankruptcies 3 7 5 −57.1 −40.0 24 20 20.0
Proposals 1 2 7 −50.0 −85.7 11 10 10.0
Nunavut 1 1 2 0.0 −50.0 4 3 33.3
Bankruptcies 1 0 1 -- 0.0 2 1 100.0
Proposals 0 1 1 −100.0 −100.0 2 2 0.0
Canada 30,175 32,995 29,059 −8.5 3.8 122,746 124,237 −1.2
Bankruptcies 17,864 19,629 17,810 −9.0 0.3 72,827 76,398 −4.7
Proposals 12,311 13,366 11,249 −7.9 9.4 49,919 47,839 4.3

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Table 2: Insolvencies Filed by Consumers
Province Volume % Change 12-Month Period Ending
Q3 2013 Q2 2013 Q3 2012 Q2 2013 to Q3 2013 Q3 2012 to Q3 2013 09-30-2013 09-30-2012 % Change
Newfoundland and Labrador 402 473 420 −15.0 −4.3 1,705 1,807 −5.6
Bankruptcies 364 432 390 −15.7 −6.7 1,571 1,667 −5.8
Proposals 38 41 30 −7.3 26.7 134 140 −4.3
Prince Edward Island 180 145 148 24.1 21.6 623 581 7.2
Bankruptcies 121 110 111 10.0 9.0 466 439 6.2
Proposals 59 35 37 68.6 59.5 157 142 10.6
Nova Scotia 1,251 1,275 1,010 −1.9 23.9 4,552 4,328 5.2
Bankruptcies 842 911 747 −7.6 12.7 3,200 3,302 −3.1
Proposals 409 364 263 12.4 55.5 1,352 1,026 31.8
New Brunswick 1,059 1,017 964 4.1 9.9 3,833 3,869 −0.9
Bankruptcies 740 759 709 −2.5 4.4 2,801 2,965 −5.5
Proposals 319 258 255 23.6 25.1 1,032 904 14.2
Quebec 9,768 10,543 8,357 −7.4 16.9 39,162 35,646 9.9
Bankruptcies 6,305 6,768 5,726 −6.8 10.1 25,209 24,607 2.4
Proposals 3,463 3,775 2,631 −8.3 31.6 13,953 11,039 26.4
Ontario 10,754 11,988 11,249 −10.3 −4.4 44,908 48,480 −7.4
Bankruptcies 5,323 6,024 5,606 −11.6 −5.0 22,097 23,945 −7.7
Proposals 5,431 5,964 5,643 −8.9 −3.8 22,811 24,535 −7.0
Manitoba 469 502 456 −6.6 2.9 1,824 1,932 −5.6
Bankruptcies 298 330 322 −9.7 −7.5 1,199 1,317 −9.0
Proposals 171 172 134 −0.6 27.6 625 615 1.6
Saskatchewan 442 447 432 −1.1 2.3 1,639 1,813 −9.6
Bankruptcies 284 260 262 9.2 8.4 997 1,060 −5.9
Proposals 158 187 170 −15.5 −7.1 642 753 −14.7
Alberta 1,979 2,235 2,186 −11.5 −9.5 8,542 9,416 −9.3
Bankruptcies 1,139 1,273 1,364 −10.5 −16.5 4,954 6,079 −18.5
Proposals 840 962 822 −12.7 2.2 3,588 3,337 7.5
British Columbia 2,867 3,226 2,806 −11.1 2.2 11,632 11,794 −1.4
Bankruptcies 1,678 1,932 1,811 −13.1 −7.3 7,122 7,612 −6.4
Proposals 1,189 1,294 995 −8.1 19.5 4,510 4,182 7.8
Northwest Territories 13 11 9 18.2 44.4 51 43 18.6
Bankruptcies 9 6 3 50.0 200.0 31 26 19.2
Proposals 4 5 6 −20.0 −33.3 20 17 17.6
Yukon 4 9 12 −55.6 −66.7 33 29 13.8
Bankruptcies 3 7 5 −57.1 −40.0 22 19 15.8
Proposals 1 2 7 −50.0 −85.7 11 10 10.0
Nunavut 1 1 1 0.0 0.0 4 2 100.0
Bankruptcies 1 0 0 -- -- 2 0 --
Proposals 0 1 1 −100.0 −100.0 2 2 0.0
Canada 29,189 31,872 28,050 −8.4 4.1 118,508 119,740 −1.0
Bankruptcies 17,107 18,812 17,056 −9.1 0.3 69,671 73,038 −4.6
Proposals 12,082 13,060 10,994 −7.5 9.9 48,837 46,702 4.6

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Table 3: Insolvencies Filed by Businesses
Province Volume % Change 12-Month Period Ending
Q3 2013 Q2 2013 Q3 2012 Q2 2013 to Q3 2013 Q3 2012 to Q3 2013 09-30-2013 09-30-2012 % Change
Newfoundland and Labrador 12 8 8 50.0 50.0 29 20 45.0
Bankruptcies 4 7 4 −42.9 0.0 18 14 28.6
Proposals 8 1 4 700.0 100.0 11 6 83.3
Prince Edward Island 8 3 3 166.7 166.7 18 22 −18.2
Bankruptcies 6 1 3 500.0 100.0 14 18 −22.2
Proposals 2 2 0 0.0 -- 4 4 0.0
Nova Scotia 27 28 22 −3.6 22.7 118 93 26.9
Bankruptcies 22 21 16 4.8 37.5 93 77 20.8
Proposals 5 7 6 −28.6 −16.7 25 16 56.3
New Brunswick 18 22 17 −18.2 5.9 72 59 22.0
Bankruptcies 13 17 9 −23.5 44.4 56 43 30.2
Proposals 5 5 8 0.0 −37.5 16 16 0.0
Quebec 507 564 479 −10.1 5.8 2,104 2,079 1.2
Bankruptcies 382 398 361 −4.0 5.8 1,538 1,533 0.3
Proposals 125 166 118 −24.7 5.9 566 546 3.7
Ontario 277 339 312 −18.3 −11.2 1,241 1,438 −13.7
Bankruptcies 230 255 240 −9.8 −4.2 976 1,093 −10.7
Proposals 47 84 72 −44.0 −34.7 265 345 −23.2
Manitoba 22 12 8 83.3 175.0 64 62 3.2
Bankruptcies 18 10 8 80.0 125.0 54 48 12.5
Proposals 4 2 0 100.0 -- 10 14 −28.6
Saskatchewan 26 32 33 −18.8 −21.2 113 136 −16.9
Bankruptcies 16 21 16 −23.8 0.0 68 86 −20.9
Proposals 10 11 17 −9.1 −41.2 45 50 −10.0
Alberta 38 46 57 −17.4 −33.3 215 325 −33.8
Bankruptcies 29 35 47 −17.1 −38.3 149 248 −39.9
Proposals 9 11 10 −18.2 −10.0 66 77 −14.3
British Columbia 51 69 69 −26.1 −26.1 262 260 0.8
Bankruptcies 37 52 49 −28.8 −24.5 188 198 −5.1
Proposals 14 17 20 −17.6 −30.0 74 62 19.4
Northwest Territories 0 0 0 -- -- 0 1 −100.0
Bankruptcies 0 0 0 -- -- 0 0 --
Proposals 0 0 0 -- -- 0 1 −100.0
Yukon 0 0 0 -- -- 2 1 100.0
Bankruptcies 0 0 0 -- -- 2 1 100.0
Proposals 0 0 0 -- -- 0 0 --
Nunavut 0 0 1 -- −100.0 0 1 −100.0
Bankruptcies 0 0 1 -- −100.0 0 1 −100.0
Proposals 0 0 0 -- -- 0 0 --
Canada 986 1,123 1,009 −12.2 −2.3 4,238 4,497 −5.8
Bankruptcies 757 817 754 −7.3 0.4 3,156 3,360 −6.1
Proposals 229 306 255 −25.2 −10.2 1,082 1,137 −4.8
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