An individual with more than 50% of total liabilities related to consumer goods and services.
Monies paid to creditors by trustees during or at the end of a bankruptcy or a proposal.
Economic Region (ER):
Statistics Canada's standard geographical units created for analysis of regional economic activity. Refer to Economic Region.
In the context of this report, a bankruptcy or a proposal.
North American Industry Classification System (NAICS):
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.
An offer to creditors to settle debts under conditions other than existing terms. A proposal is a formal agreement under the Bankruptcy and Insolvency Act.
Action against an insolvent person or a bankrupt where a secured creditor takes steps to enforce its security through seizure of assets. The Court-appointed receiver is an officer of the court who acts in a fiduciary capacity with respect to all interested parties. The privately appointed receiver derives his/her powers and authority wholly from the security agreement.