CCAA Statistics—Fourth Quarter of 2019

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

Fifteen Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the fourth quarter of 2019. Please refer to the CCAA Records List for additional details regarding each filing.

Companies' Creditors Arrangement Act (CCAA) proceedings filed
Company Name Province Sector Monitor Liabilities
(in millions)
Bellatrix Exploration Ltd. Alberta Mining, Quarrying and Oil and Gas Extraction PricewaterhouseCoopers Inc. $545.2
Del Equipment Inc. Ontario Manufacturing MNP Ltd. $26.2
North American Fur Auctions Inc., North American Fur Producers Inc., NAFA Properties Inc., NAFA Properties (US) Inc., 3306319 Nova Scotia Limited, NAFA Properties Stoughton LLC, North American Fur Auctions (US) Inc., NAFPRO LLC (Wisconsin LLC), NAFA Europe Co-Operatief UA, NAFA Europe B.V., Daikoku SP.Z OO, and NAFA Polska SP.Z OO Ontario Agriculture, forestry, fishing and hunting Deloitte Restructuring Inc. $111.3
3834310 Canada Inc. and Le Groupe Capitales Médias Inc. Quebec Information and cultural industries PricewaterhouseCoopers Inc. $39.2
9227-1584 Québec Inc. and 9336-9262 Québec Inc. Quebec Construction KPMG Inc. $17.8
Accel Canada Holdings Limited and Accel Energy Canada limited Alberta Mining, Quarrying and Oil and Gas Extraction PricewaterhouseCoopers Inc. $668.7
Wayland Group Corp., Maricann Inc. and Nanoleaf Technologies Inc. Ontario Manufacturing PricewaterhouseCoopers Inc. $45.7
Clover Leaf Holdings Company, Connors Bros. Clover Leaf Seafoods Company, K.C.R. Fisheries Ltd., 6162410 Canada Limited, Connors Bros. Holdings Company and Connors Bros. Seafoods Company Ontario Agriculture, forestry, fishing and hunting Alvarez & Marsal Canada Inc. $398.4
Tli Cho Landtran Transport Ltd., 1456998 Alberta Ltd., 1456982 Alberta Ltd. and Ventures West Limited Partnership Alberta Transportation and warehousing MNP Ltd. $55.7
9348069 Canada Inc., 4295862 Canada Inc., Motovan Corporation, Moncy Holding Company Inc., Moncy Financial Services Company Inc., Nichols Motorcycle Supply Inc., Moncy LLC and Motorcycle Tires & Accessories LLC Quebec Wholesale Trade KPMG Inc. $104.3
AgMedica Bioscience Inc., 2472602 Ontario Inc., 2642466 Ontario Inc., 8895309 Canada Inc., Wellworth Health Corp., 8050678 Canada Inc., 8326851 Canada Inc., Tavivat Naturals Inc., Worldwide Beverage Innovations Inc., Unique Beverages (USA) Inc., and Eseela Inc. Ontario Agriculture, forestry, fishing and hunting Ernst & Young Inc. $65.7
1112-1124 Capital Corp., 20/20 Capital Corp., 411 Ltd., 534 Capital Corp., 550 Capital Corp., 744 (2011) Capital Corp., 808 Capital Corp., 926 Capital Corp., Airdrie Gateway Block 2 Capital Corp., Airways Business Plaza Capital Corp., Aura Capital Corp., Avenida Village Ltd., Blackfoot Centre Ltd., Bonavista Square Ltd., Center Street GP Ltd., Centre 1000 Capital Corp., Centre Eleven Capital Corp., Centro 2102 Capital Corp., Deerfoot 17 Corp., Deerfoot Court (2011) Capital Corp., First Street Plaza GP Ltd., Glenmore Commerce Court Capital Corp., Inglewood 9th Avenue GP Ltd., Kensington Building Capital Corp., Louise Block Capital Corp., Macleod Place Ltd., Mayfield Capital Corp., Mission Centre Inc., Airdrie Creekside Capital Corp., Torode Strategic 1129 GP Ltd., One Six Capital Corp., Parallel Centre Ltd., Paramount Building Ltd., Parkwood/Eastgate Capital Corp., Pegasus Business Park Ltd., Stony Plain Capital Corp., Petro Fina Capital Corp., Petro West Ltd., Place 9-6 Ltd., Shelbourne Place Ltd., Stella Place Capital Corp., Strategic Centre Ltd., Sundance Place Ltd., Sundance Place II Ltd., Sunpark Place Ltd., Airdrie Gateway Block 3 Capital Corp., Wesley Church Building Inc., Willow Park Capital Corp., 411 Capital Corp., 1445122 Alberta Ltd., 1220 Kensington Road Corp., Macleod Place Holding Corp. Alberta Real estate and rental and leasing Hardie & Kelly Inc. $849.4
Fortress Global Enterprises Inc., Fortress Specialty Cellulose Inc., Fortress Bioenergy Ltd., Fortress Xylitol Inc. and 9217-6536 Québec Inc. Quebec Manufacturing Deloitte Restructuring Inc. $280.7
Nemaska Lithium Inc., Nemaska Lithium P1P Inc., Nemaska Lithium Shawinigan Transformation Inc., Nemaska Lithium Innovation Inc., Nemaska Lithium Whabouchi Mine Inc. Quebec Mining, Quarrying and Oil and Gas Extraction PricewaterhouseCoopers Inc. $208.3
Lydian International Limited, Lydian Canada Ventures Corporation and Lydian U.K. Corporation Limited Ontario Mining, Quarrying and Oil and Gas Extraction Alvarez & Marsal Canada Inc. $395.3

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 2017 to the fourth quarter of 2019. The note to the table explains that East Region includes New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec; Ontario Region includes Ontario; and West Region includes Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan, and Yukon.

The x-axis represents the quarters for the data points, starting at the fourth quarter of 2017 and continuing for each quarter until the fourth quarter of 2019.

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 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. 

For the first quarter of 2019, the Ontario Region increased to 6 filings, the West Region increased to 4 filings, and the East Region increased to 3 filings.

For the second quarter of 2019, the Ontario Region and the West Region both dropped to 1 filing, and the East Region dropped to 2 filings.

For the third quarter of 2019, the West Region increased to 3 filings, the Ontario Region increased to 2 filings, and the East Region dropped to 1 filing.

For the fourth quarter of 2019, the West Region increased to 4 filings, the Ontario Region increased to 6 filings, and the East Region increased to 5 filings.

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the fourth quarter of 2019, Alberta had 4 filings (27%), Quebec had 5 filings (33%), and Ontario had 6 filings (40%).

 

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 2019. 

The x-axis represents the sectors which had filings in the fourth quarter of 2019. There are 8 sectors represented, each shown with a blue vertical bar. The 8 sectors represented in the fourth quarter of 2019 are as below:

  1. The information and cultural industries sector had 1 filing.
  2. The agriculture, forestry, fishing and hunting sector had 3 filings.
  3. The construction sector had 1 filing.
  4. The manufacturing sector had 3 filings.
  5. The mining, quarrying and oil and gas extraction sector had 4 filings.
  6. The transportation and warehousing sector had 1 filing.
  7. The wholesale trade sector had 1 filing.
  8. The real estate and rental and leasing 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 4.

[Text in margin] The sector with the most filings this quarter was Mining, Quarrying and Oil and Gas Extraction.

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 Proceeding (in days) Liabilities (in millions)
Edgeworth Properties Inc. Real Restate and Rental and Leasing Grant Thornton Limited Terminated – no compromise or arrangement sanctioned by court 2,265 $199
Mady Collier Centre Ltd. Construction Grant Thornton Limited Terminated – no compromise or arrangement sanctioned by court 503 $58
Homerun Capital Corp. et al. Construction Hardie & Kelly Inc. Taken up under BIA 860 $32
Index Energy Mills Road Corporation Mining, Quarrying and Oil and Gas Extraction Grant Thornton Limited Terminated – no compromise or arrangement sanctioned by court 208 $156
Liberty Crossing General Partner Inc. Construction Ernst & Young Inc. Concluded - compromise or arrangement completed 623 $262
Anterra Energy Inc. Mining, Quarrying and Oil and Gas Extraction PricewaterhouseCoopers Inc. Taken up under BIA 1,286 $51
Toys "R" US (Canada) Ltd. Retail Trade Grant Thornton Limited Terminated – no compromise or arrangement sanctioned by court 254 $380
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
  Volume +/- Change 12-Month Period Ending
Q4 2019 Q3 2019 Q4 2018 Q3 2019 –
Q4 2019
Q4 2018 –
Q4 2019
12-31-2019 12-31-2018 +/- Change
Total Domestic Proceedings FiledFootnote1 15 6 6 9 9 38 20 18
Filing Affiliates
106 40 20 66 86 323 69 254
Filed by Publicly-Traded Companies
5 2 0 3 5 11 1 10
Filed by Privately-Traded Companies
10 4 6 6 4 27 19 8
Total Liabilities — Book Value ($ millions)Footnote2 $3,811.814 $1,104.823 $200.879 $2,706.990 $3,610.934 $9,157.598 $5,219.151 $3,938.447
% of Secured Liabilities
75.62% 64.46% 48.10% n/a n/a 56.95% 28.61% n/a
% of Unsecured Liabilities
24.38% 35.54% 51.90% n/a n/a 43.05% 71.39% n/a
Total Assets — Book Value ($ millions) $8,775.944 $1,053.191 $175.103 $7,722.753 $8,600.841 $21,418.147 $4,687.857 $16,730.290
Table 2: Total CCAA Proceedings Filed by Province
  Volume +/- Change 12-Month Period Ending
Q4 2019 Q3 2019 Q4 2018 Q3 2019 – Q4 2019 Q4 2018 – Q4 2019 12-31-2019 12-31-2018 +/- Change
Newfoundland and Labrador 0 0 0 0 0 1 0 1
Prince Edward Island 0 0 0 0 0 0 0 0
Nova Scotia 0 0 1 0 -1 1 2 -1
New Brunswick 0 0 0 0 0 0 0 0
Quebec 5 1 2 4 3 9 5 4
Ontario 6 2 1 4 5 15 8 7
Manitoba 0 0 0 0 0 0 0 0
Saskatchewan 0 0 0 0 0 0 0 0
Alberta 4 0 0 4 4 7 2 5
British Columbia 0 3 2 -3 -2 5 3 2
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 15 6 6 9 9 38 20 18
Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada Footnote 3
  Volume +/- Change 12-Month Period Ending
Q4 2019 Q3 2019 Q4 2018 Q3 2019 – Q4 2019 Q4 2018 – Q4 2019 12-31-2019 12-31-2018 +/- Change
Agriculture, Forestry, Fishing and Hunting 3 1 1 2 2 4 1 3
Mining, Quarrying and Oil and Gas Extraction 4 3 0 1 4 11 3 8
Utilities 0 0 1 0 -1 0 1 -1
Construction 1 0 1 1 0 2 3 -1
Manufacturing 3 0 0 3 3 7 3 4
Wholesale Trade 1 1 0 0 1 5 0 5
Retail Trade 0 1 1 -1 -1 2 2 0
Transportation and Warehousing 1 0 1 1 0 2 3 -1
Information and Cultural Industries 1 0 0 1 1 2 0 2
Finance and Insurance 0 0 0 0 0 1 0 1
Real Estate, Rental and Leasing 1 0 0 1 1 1 0 1
Professional, Scientific and Technical Services 0 0 0 0 0 1 1 0
Management of Companies and Enterprises 0 0 0 0 0 0 0 0
Administrative and Support, Waste Management and Remediation Services 0 0 1 0 -1 0 2 -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 0 1 -1
Other Services (except Public Administration) 0 0 0 0 0 0 0 0
Public Administration 0 0 0 0 0 0 0 0
Canada 15 6 6 9 9 38 20 18
Date modified: