CCAA Statistics—Fourth 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 fourth 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)
Forme Development Group Inc. Ontario Construction KSV Kofman Inc. $101
OpenHydro Technology Canada Ltd. Nova Scotia Utilities Grant Thornton Limited $6
Gestion Maison Éthier Inc. et Gestion Immobilière Maison Éthier Inc. Quebec Retail Trade KPMG Inc. $23
Harvest Fraser Richmond Organics Ltd. British Columbia Administrative and Support, Waste Management and Remediation Services Ernst & Young Inc.  $39
Purewal Blueberry Farms Ltd. British Columbia Agriculture, Forestry, Fishing and Hunting FTI Consulting Canada Inc.  $16
V.A. Inc.,Location V.A. Inc., 9288-7561 Québec Inc. et 9001-6346 Québec Inc Quebec Transportation and Warehousing Raymond Chabot Inc.  $16

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 fourth quarter of 2016 to the fourth 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 fourth quarter of 2016 and continuing for each quarter until the fourth 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 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.

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.

For the fourth quarter of 2018, the East Region increased to 2 filings, the West Region remained at 2 filings, and the Ontario 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 fourth quarter of 2018, Nova Scotia had 1 filing (16%), Quebec had 2 filings (33%), Ontario had 1 filing (16%), and British Columbia had 2 filings (33%).

East Region includes Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador
Ontario Region includes Ontario
West Region includes British Columbia, Yukon, Alberta, Northwest Territories, Saskatchewan, Manitoba and Nunavut

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 fourth quarter of 2018.

The x-axis represents the sectors which had filings in the fourth quarter of 2018. There are 6 sectors represented, each shown with a blue vertical bar. The 6 sectors represented in the fourth quarter of 2018 are as below:

  1. The utilities sector had 1 filing.
  2. The construction sector had 1 filing.
  3. The retail trade sector had 1 filing.
  4. The administrative support, waste management and remediation services sector had 1 filing.
  5. The agriculture, forestry, fishing and hunting sector had 1 filing.
  6. The transportation and warehousing 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.

Text in margin

Filings this quarter were equally divided amongst the construction, retail trade, administrative support, waste management and remediation services, agriculture, forestry, fishing and hunting, and transportation and warehousing sectors.

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)
669699 N.B. Ltd., New Future Lumber Ltd., MP Atlantic Wood Ltd. Manufacturing Powell Associates Ltd. Taken up under BIA 271 $15
Lemare Holdings Ltd. et al. Agriculture, forestry, fishing and hunting Alvarez & Marsal Canada Inc. Concluded – compromise or arrangement completed  889 $14
Victory Farms Incorporated and Jonathan Mullen Mink Ranch Limited Agriculture, forestry, fishing and hunting Deloitte Restructuring Inc.  Terminated – no compromise or arrangement  sanctioned by the court  448 $13
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
Q4 2018 Q3 2018 Q4 2017 Q3 2018 –
Q4 2018
Q4 2017 –
Q4 2018
12-31-2018 12-31-2017 +/− Change
Total Domestic Proceedings FiledFootnote1 6 6 12 0 -6 20 23 -3
Filing Affiliates 20 33 28 -13 -8 69 215 -146
Filed by Publicly-Traded Companies 0 1 0 -1 0 1 2 -1
Filed by Privately-Held Companies 6 5 12 1 -6 19 21 -2
Total Liabilities - Book Value Footnote2,Footnote 3 $.2009B $1.236B $.7327B -$1.036B -$.5319B $5.219B $3.458B $1.761B
% of Secured Liabilities 48.10% 49.46% 84.75% n/a n/a 28.61% 46.91% n/a
% of Unsecured Liabilities 51.90% 50.54% 15.25% n/a n/a 71.39% 53.09% n/a
Total Assets - Book Value $.1751B $.9496B $.8683B -$.7745B -$.6932B $4.688B $3.818B $.8689B
Table 2: Total CCAA Proceedings Filed by Province
Volume +/- Change 12-Month Period Ending
Q4 2018 Q3 2018 Q4 2017 Q3 2018 –
Q4 2018
Q4 2017 –
Q4 2018
12-31-2018 12-31-2017 +/- 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 1 0 1 1 0 2 1 1
New Brunswick 0 0 1 0 -1 0 1 -1
Quebec 2 1 5 1 -3 5 9 -4
Ontario 1 3 1 -2 0 8 6 2
Manitoba 0 0 0 0 0 0 0 0
Saskatchewan 0 0 1 0 -1 0 1 -1
Alberta 0 2 1 -2 -1 2 3 -1
British Columbia 2 0 2 2 0 3 2 1
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 6 6 12 0 -6 20 23 -3
Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada Footnote 4
Sector Volume +/− Change 12-Month Period Ending
Q4 2018 Q3 2018 Q4 2017 Q3 2018 –
Q4 2018
Q4 2017 –
Q4 2018
12-31-2018 12-31-2017 +/− Change
Agriculture, Forestry, Fishing and Hunting 1 0 0 1 1 1 0 1
Mining and Oil and Gas Extraction 0 1 1 -1 -1 3 1 2
Utilities 1 0 0 1 1 1 1 0
Construction 1 1 1 0 0 3 1 2
Manufacturing 0 2 1 -2 -1 3 2 1
Wholesale Trade 0 0 1 0 -1 0 1 -1
Retail Trade 1 0 3 1 -2 2 6 -4
Transportation and Warehousing 1 1 1 0 0 3 1 2
Information and Cultural Industries 0 0 0 0 0 0 0 0
Finance and Insurance 0 0 1 0 -1 0 1 -1
Real Estate, Rental and Leasing 0 0 0 0 0 0 2 -2
Professional, Scientific and Technical Services 0 1 0 -1 0 1 0 1
Management of Companies and Enterprises 0 0 3 0 -3 0 3 -3
Administrative and Support, Waste Management and Remediation Services 1 0 0 1 1 2 0 2
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 0 0 0 0 0 1 1 0
Other Services (except Public Administration) 0 0 0 0 0 0 0 0
Public Administration 0 0 0 0 0 0 0 0
Canada 6 6 12 0 -7 20 20 0
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