CCAA Statistics—Third 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

Six Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the third 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)

Aralez Pharmaceuticals Inc. and Aralez Pharmaceuticals Canada Inc

ON Manufacturing Richter Advisory Group Inc. $487
Great Slave Helicopters Ltd. ON Transportation and warehousing KSV Kofman Inc. $266
Groupe SM/SM Group QC

Professional, scientific and technical services

Deloitte Restructuring Inc. $119
Kraus Brands Inc. ON Manufacturing Deloitte Restructuring Inc. $180
Ranch Energy Corporation, OpsMobil Inc., 173163 Alberta Inc., 1859821 Alberta Inc., Air Dallaire Ltd., OpsMobil Group Inc., OpsMobil Construction Inc.,OpsMobil Energy Services Inc., K.L. Capital Corp. AB

Mining, quarrying, and oil and gas extraction

Ernst and Young Inc. $171
Rivairo Capital Corporation AB Construction The Bowra Group Inc. $11

Figure 1: Filings by regionFootnote*

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 third quarter of 2016 to the third 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 third quarter of 2016 and continuing for each quarter until the third 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 squares for data points; and the West Region is represented by a green line with triangles for data points.

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 2 filings, East Region dropped to 1 filing, and the West Region dropped to zero filings.

For the second quarter of 2018, the East Region increased to 2 filings, the West Region increased to one filing, and the Ontario Region dropped to 1 filing.

For the third quarter of 2018, the Ontario Region increased to 3 filings, the West Region increased to 2 filings, and the East Region dropped to 1 filing.

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the third quarter of 2018, Quebec had 1 filing (18%), Ontario had 3 filings (50%), and Alberta had 2 filings (33%).

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

Figure 2: Filings by NAICS economic sector

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 third quarter of 2018.

The x-axis represents the sectors which had filings in the third quarter of 2018. There are 5 sectors represented, each shown with a blue vertical bar. The 5 sectors represented in the third quarter of 2018 are as below:

  1. The manufacturing sector had 2 filings.
  2. The mining, quarrying, and oil and gas extraction sector had 1 filing.
  3. The transportation and warehousing sector had 1 filing.
  4. The professional, scientific, and technical services sector had 1 filing.
  5. The construction 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 2.

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)
Kitco Metals Inc. Mining, quarrying, and oil and gas extraction Richter Advisory Group Inc. Concluded – compromise or arrangement completed 2555 $88
TELoIP Inc. Administrative and support, waste management and remediation services Pricewaterhouse Coopers Concluded – compromise or arrangement completed 57 $33
Footnote *

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
TypeVolume+/− Change12-Month Period Ending
Q3 2018 Q2 2018 Q3 2017 Q2 2018 –
Q3 2018
Q3 2017 –
Q3 2018
09-30-201809-30-2017+/− Change
Total Domestic Proceedings FiledFootnote16 4 3 2 3 26 21 5
Filing Affiliates33 5 9 28 24 77 369 -292
Filed by Publicly-Traded Companies 1 0 0 1 1 1 5 -4
Filed by Privately-Held Companies 5 4 3 1 2 25 16 9
Total Liabilities - Book Value Footnote2,Footnote 3$1.236B $.0916B $.6119B $1.145B $.6248B $5.751B $4.148B $1.602B
% of Secured Liabilities49.46% 63.16% 69.77% n/a n/a 35.08% 46.59% n/a
% of Unsecured Liabilities50.54% 36.84% 30.23% n/a n/a 64.92% 53.41% n/a
Total Assets - Book Value$.9496B $.0994B $.6726B $.8502B $.2769B $5.381B $4.429B $.9518B
Table 2: Total CCAA Proceedings Filed by Province
Volume+/- Change12-Month Period Ending
Q3 2018 Q2 2018 Q3 2017 Q2 2018 –
Q3 2018
Q3 2017 –
Q3 2018
09-30-2018 09-30-2017 +/- Change
Newfoundland and Labrador0 0 0 0 0 0 0 0
Prince Edward Island0 0 0 0 0 0 0 0
Nova Scotia 0 1 0 -1 0 2 0 2
New Brunswick0 0 0 0 0 1 0 1
Quebec1 1 0 0 1 8 5 3
Ontario 3 1 2 2 1 8 11 -3
Manitoba0 0 0 0 0 0 0 0
Saskatchewan0 0 0 0 0 1 0 1
Alberta 2 0 1 2 1 3 3 0
British Columbia 0 1 0 -1 0 3 2 1
Northwest Territories0 0 0 0 0 0 0 0
Yukon0 0 0 0 0 0 0 0
Nunavut0 0 0 0 0 0 0 0
Canada 6 4 3 2 3 26 21 5
Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada Footnote 4
SectorVolume+/− Change12-Month Period Ending
Q3 2018 Q2 2018 Q3 2017 Q2 2018 –
Q3 2018
Q3 2017 –
Q3 2018
09-30-2018 09-30-2017 +/− Change
Agriculture, Forestry, Fishing and Hunting0 0 0 0 0 0 0 0
Mining and Oil and Gas Extraction1 1 0 0 1 4 1 3
Utilities0 0 1 0 -1 0 1 -1
Construction 1 0 0 1 1 3 3 0
Manufacturing 2 1 0 1 2 4 2 2
Wholesale Trade0 0 0 0 0 1 0 1
Retail Trade 0 1 1 -1 -1 4 3 1
Transportation and Warehousing 1 0 0 1 1 3 1 2
Information and Cultural Industries0 0 0 0 0 0 2 -2
Finance and Insurance0 0 0 0 0 1 0 1
Real Estate, Rental and Leasing0 0 0 0 0 0 3 -3
Professional, Scientific and Technical Services 1 0 0 1 1 1 0 1
Management of Companies and Enterprises0 0 0 0 0 3 1 2
Administrative and Support, Waste Management and Remediation Services 0 1 0 -1 0 1 0 1
Educational Services0 0 0 0 0 0 0 0
Health Care and Social Assistance0 0 0 0 0 0 0 0
Arts, Entertainment and Recreation0 0 0 0 0 0 0 0
Accommodation and Food Services0 0 1 0 -1 1 1 0
Other Services (except Public Administration)0 0 0 0 0 0 0 0
Public Administration0 0 0 0 0 0 0 0
Canada 6 4 3 2 3 26 18 8
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