CCAA Statistics—First Quarter of 2018

Sections

Definitions

CCAA: The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. CCAA proceedings are carried out under supervision of the courts.

North American Industry Classification System (NAICS): The NAICS is an industry classification system that classifies economic units that have similar production processes in the same industry. This is a supply-based or production- oriented economic concept.

Highlights

Four Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the first quarter of 2018. Please refer to the CCAA Records List for additional details regarding each filing.

Companies' Creditors Arrangement Act (CCAA) proceedings filed with OSB
Company Name Province Sector Monitor Liabilities
(in millions)
Carillion Canada Inc., Carillion Canada Finance Corporation, Carillion Canada Holdings Inc., Carillion Construction Inc., Carillion Services Inc., Carillion Services (FSCC) Inc., Bearhills Fire Inc., Outland Camps Inc., Outland Resources Inc., Carillion Pacific Construction Inc. ON Construction EY $2.781B
Discovery Air Inc. ON Transportation and Warehousing KSV Kofman Inc. $174
Dundee Energy Limited Partnership, Dundee Oil and Gas Limited ON Mining and Oil and Gas Extraction FTI Consulting Canada Inc. $115
Société en commandite Tilly de Laval et Promotions Anne Delisle Inc. QC Accommodation and Food Services Lemieux Nolet Inc. $672

Figure 1: Filings by regionFootnote*

Line chart representing the number of CCAA filings by region (the long description is located below the image)
Description of Figure 1

This line graph presents the number of filings per quarter under the Companies' Creditors Arrangement Act (CCAA), broken down by the East, Ontario and West Regions from the first quarter of 2016 to the first quarter of 2018. The note to the table explains that East Region includes Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador; Ontario Region includes Ontario; and West Region includes British Columbia, Yukon, Alberta, Northwest Territories, Saskatchewan, Manitoba and Nunavut.

The x-axis represents the quarters for the data points, starting at the first quarter of 2016 and continuing for each quarter until the first quarter of 2018.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 8. The legend on the right side of the chart shows that East Region is represented by a blue line with diamonds to mark data points; Ontario Region is represented by a purple line with asterisks for data points; and the West Region is represented by a green line with triangles for data points.

Starting in the first quarter of 2016, East Region had three CCAA filings; Ontario Region had three filings; and West Region had four filings.

For the second quarter of 2016, East Region dropped to one CCAA filing; Ontario Region increased to five filings; and West Region climbed to seven filings.

For the third quarter of 2016, all three regions had three CCAA filings: an increase for East Region, and a decline for the Ontario and West regions.

For the fourth quarter of 2016, East Region dropped to one CCAA filing; Ontario Region increased to six filings; and West Region remained at three filings.

For the first quarter of 2017, East Region increased to two filings and Ontario Region decreased to one filing. The West Region dropped to zero filings.

For the second quarter of 2017, the Ontario Region increased to two filings, the West increased to one filing and the East remained at two filings.

For the third quarter of 2017, the Ontario Region remained at two filings, the West remained at one filing and the East dropped to zero filings.

For the fourth quarter of 2017, the East Region increased to seven filings, the West increased to four filings, and the Ontario Region dropped to one filing.

For the first quarter of 2018, the Ontario Region increased to 3 filings, East Region dropped to 1 filing, and the West Region dropped to zero filings.

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the first quarter of 2018, Quebec had 1 filing (25%) and Ontario had 3 filings (75%).

For more information, see Table 2: Total CCAA Proceedings Filed by Province

Figure 2: Filings by NAICS economic sector

Bar chart representing the filings by NAICS Economic Sector (the long description is located below the image)
Description of Figure 2

This bar graph breaks down filings under the Companies' Creditors Arrangement Act (CCAA) by economic sector as defined by the North American Industry Classification System (NAICS). The data is for the first quarter of 2018.

The x-axis represents the sectors which had filings in the first quarter of 2018. There are 4 sectors represented, each shown with a blue vertical bar. The 4 sectors represented in the first quarter of 2018 are as below:

  1. The construction sector had 1 filing.
  2. The transportation and warehousing sector had 1 filing.
  3. The mining and oil and gas extraction sector had 1 filing.
  4. The accommodation and food services sector had 1 filing.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 1.

For more information, see Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada

Recently closed filesFootnote *
Company Name Sector Monitor Outcome Duration of the Proceedings
(in days)
Liabilities
(in millions)
Plasco Energy Group Inc., Plasco Trail Road Inc., Plasco Ottawa Inc. Environmental Consulting Services EY Terminated - no compromise or arrangement sanctioned by the court 1107 $116
Farley Windoor Ltd. and Farley Windows, U.S.A. Inc. Plastics Product Manufacturing EY Terminated - no compromise or arrangement sanctioned by the court 1909 $13
Victorian Order of Nurses for Canada, Victorian Order of Nurses for Canada - Eastern Region and Victorian Order of Nurses for Canada - Western Region Health Care and Social Assistance Collins Barrow Terminated - no compromise or arrangement sanctioned by the court 797 $30
Footnote *(2)

Some files may have been closed before the beginning of the quarter. For exact closing dates, please refer to the CCAA Records List.

Return to footnote * referrer

Table 1: Total CCAA Proceedings—Domestic
Type Volume +/− Change 12-Month Period Ending
Q1 2018 Q4 2017 Q1 2017 Q4 2017 –
Q1 2018
Q1 2017 –
Q1 2018
03-31-2018 03-31-2017 +/− Change
Total Domestic Proceedings FiledFootnote1 4 12 3 -8 1 24 35 -11
Filing Affiliates 11 28 4 -17 7 222 251 -29
Filed by Publicly-Traded Companies 0 0 0 0 0 2 9 -7
Filed by Privately-Held Companies 4 12 3 -8 1 22 26 -4
Total Liabilities - Book Value Footnote2,Footnote 3 $3.744B $0.732B $0.153B $3.011B $3.590B $7.048B $14.556B -$7.507B
% of Secured Liabilities 20.96% 84.75% 20.03% n/a n/a 33.71% 26.00% n/a
% of Unsecured Liabilities 79.04% 15.25% 79.97% n/a n/a 66.29% 74.00% n/a
Total Assets - Book Value $3.463B $0.868B $0.124B $2.595B $3.339B $7.158B $11.423B -$4.265B
Table 2: Total CCAA Proceedings Filed by Province
Volume +/- Change 12-Month Period Ending
Q1 2018 Q4 2017 Q1 2017 Q4 2017 –
Q1 2018
Q1 2017 –
Q1 2018
03-31-2018 03-31-2017 +/- Change
Newfoundland and Labrador 0 0 0 0 0 0 0 0
Prince Edward Island 0 0 0 0 0 0 0 0
Nova Scotia 0 1 0 -1 0 1 2 -1
New Brunswick 0 1 0 -1 0 1 0 1
Quebec 1 5 2 -4 -1 8 5 3
Ontario 3 1 1 2 2 8 14 -6
Manitoba 0 0 0 0 0 0 1 -1
Saskatchewan 0 1 0 -1 0 1 1 0
Alberta 0 1 0 -1 0 3 10 -7
British Columbia 0 2 0 -2 0 2 2 0
Northwest Territories 0 0 0 0 0 0 0 0
Yukon 0 0 0 0 0 0 0 0
Nunavut 0 0 0 0 0 0 0 0
Canada 4 12 3 -8 1 24 35 -11
Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada Footnote 4
Sector Volume +/− Change 12-Month Period Ending
Q1 2018 Q4 2017 Q1 2017 Q4 2017 –
Q1 2018
Q1 2017 –
Q1 2018
03-31-2018 03-31-2017 +/− Change
Agriculture, Forestry, Fishing and Hunting 0 0 0 0 0 0 1 -1
Mining and Oil and Gas Extraction 1 1 0 0 1 2 9 -7
Utilities 0 0 0 0 0 1 0 1
Construction 1 1 0 0 1 2 7 -5
Manufacturing 0 1 1 -1 -1 1 4 -3
Wholesale Trade 0 1 0 -1 0 1 0 1
Retail Trade 0 3 0 -3 0 6 3 3
Transportation and Warehousing 1 1 0 0 1 2 2 0
Information and Cultural Industries 0 0 0 0 0 0 3 -3
Finance and Insurance 0 1 0 -1 0 1 1 0
Real Estate, Rental and Leasing 0 0 1 0 -1 1 2 -1
Professional, Scientific and Technical Services 0 0 0 0 0 0 0 0
Management of Companies and Enterprises 0 3 0 -3 0 3 2 1
Administrative and Support, Waste Management and Remediation Services 0 0 0 0 0 0 0 0
Educational Services 0 0 0 0 0 0 0 0
Health Care and Social Assistance 0 0 0 0 0 0 0 0
Arts, Entertainment and Recreation 0 0 0 0 0 0 0 0
Accommodation and Food Services 1 0 0 1 1 2 0 2
Other Services (except Public Administration) 0 0 0 0 0 0 0 0
Public Administration 0 0 0 0 0 0 0 0
Canada 4 12 2 -8 2 22 34 -12
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