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CCAA Statistics—Second Quarter of 2020

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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

Twenty-seven Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the second quarter of 2020. Please refer to the CCAA Records List for additional details regarding each filing.

Company Name Province Sector Monitor Liabilities
(in millions)
Cirque Du Soleil Canada Inc. and the other forty-two applicants Quebec Arts, entertainment and recreation Ernst & Young Inc. $1,466.9
Korite International Inc. Alberta Administrative and support, waste management and remediation services BDO Canada Limited $16.4
Northern Silica Corporation, Heemskirk Mining PTY. Ltd., Heemskirk Canada Holdings Limited, Heemskirk Canada Limited, Custom Bulk Services Inc., and HCA Mountain Minerals (Moberly) Limited Alberta Mining, quarrying, and oil and gas extraction Alvarez & Marsal Canada Inc. $90.0
Roberts Company Canada Limited Ontario Manufacturing Richter Advisory Group Inc. $40.5
GFA World Ontario Other services (except public administration) PricewaterhouseCoopers Inc. $170.0
The Clover on Yonge Inc. and The Clover on Yonge Limited Partnership Ontario Real estate and rental and leasing PricewaterhouseCoopers Inc. $240.8
1057863 BC Ltd., Northern Resources Nova Scotia Corporation, Northern Pulp Nova Scotia Corporation, Northern Timber Nova Scotia Corporation, 3253527 Nova Scotia Limited, 3243722 Nova Scotia Limited and Northern Pulp NS GP ULC British Columbia Manufacturing Ernst & Young Inc. $420.5
957855 Alberta Ltd. (Formerly Newswest Inc.) and Rosebud Creek Financial Corp. Ontario Management of companies and enterprises KSV Kofman Inc. $17.9
Beleave Inc., Beleave Kannabis Corp., Seven Oaks Inc., 9334416 Canada Inc. O/A Medigreen and My-Grow, Beleave Kannabis Abbotsford Inc. and Beleave Kannabis Chilliwack Inc. Ontario Agriculture, forestry, fishing and hunting Grant Thornton Limited $18.1
Comark Holdings Inc., Bootlegger Clothing Inc., Cleo Fashions Inc. and Ricki's Fashions Inc. Ontario Retail trade Alvarez & Marsal Canada Inc. $82.3
Peraso Technologies Inc. Ontario Manufacturing Ernst & Young Inc. $122.0
Bow River Energy Ltd. Alberta Mining, quarrying, and oil and gas extraction BDO Canada Limited $83.4
Cequence Energy Ltd. and 1175043 Alberta Ltd. Alberta Mining, quarrying, and oil and gas extraction Ernst & Young Inc. $168.3
Port Capital Development (EV) Inc. and Evergreen House Development Limited Partnership British Columbia Real estate and rental and leasing Ernst & Young Inc. $38.2
Green Growth Brands Inc., GGB Canada Inc., Green Growth Brands Realty Ltd. and Xanthic Biopharma Limited Ontario Agriculture, forestry, fishing and hunting Ernst & Young Inc. $247.6
Reitmans (Canada) Limited Quebec Retail trade Ernst & Young Inc. $366.4
ENTREC Corporation, Capstan Hauling Ltd., ENTREC Alberta Ltd., ENT Capital Corp., ENTREC Cranes & Heavy Haul Inc., ENTREC Holdings Inc., ENT Oilfield Group Ltd. and ENTREC Services Ltd. Alberta Mining, quarrying, and oil and gas extraction Alvarez & Marsal Canada Inc. $271.9
Redrock Camps Inc., Sockeye Enterprises Inc., Sweetwater Hospitality Inc. and Baldr Construction Management Inc. Alberta Construction BDO Canada Limited $26.6
Flighthub Group Inc., Flighthub Service Inc., SSFP Corp., Justfly Inc., Justfly Corp. and 11644670 Canada Inc. Quebec Administrative and support, waste management and remediation services MNP Ltd. $70.9
Développement Lachine Est Inc., Construction Frank Catania et Associés Inc., Les Développements Immobiliers F. Catania et Associés Inc., Groupe Frank Catania & Associés Inc., 7593724 Canada Inc., 3886735 Canada Inc., 4204930 Canada Inc., 4167601 Canada Inc., 4286567 Canada Inc. and 4127927 Canada Inc. Quebec Real estate and rental and leasing Raymond Chabot Inc. $32.9
The Aldo Group Inc., Southwest Capital Holdings Inc., Aldo U.S. Inc., Aldo Marketing LLC, Aldo Shoes West Forty Second, LLC, Aldo 1125 Third Ave Corp., 1230 Avenue of the Americas LLC, Aldo 5th Ave. Inc. and Aldo 250 West 125 Inc. Quebec Retail trade Ernst & Young Inc. $563.0
JMB Crushing Systems Inc. and 2161889 Alberta Ltd. Alberta Mining, quarrying, and oil and gas extraction FTI Consulting Canada Inc. $55.2
Soccer Express Trading Corp. and Kahunaverse Sports Group Inc. British Columbia Retail trade PricewaterhouseCoopers Inc. $22.5
Dominion Diamond Mines ULC, Dominion Diamond Delaware Company, LLC, Dominion Diamond Canada ULC, Washington Diamond Investments, LLC, Dominion Diamond Holdings, LLC and Dominion Finco Inc. Alberta Mining, quarrying, and oil and gas extraction FTI Consulting Canada Inc. $1,217.5
Delphi Energy Corp. and Delphi Energy (Alberta) Limited Alberta Mining, quarrying, and oil and gas extraction PricewaterhouseCoopers Inc. $195.1
Green Relief Inc. Ontario Agriculture, forestry, fishing and hunting PricewaterhouseCoopers Inc. $14.2
James E. Wagner Cultivation Corporation, James E. Wagner Cultivation Ltd., JWC 1 Ltd., JWC 2 Ltd., JWC Supply Ltd. and GrowthStorm Inc. Ontario Manufacturing KSV Kofman Inc. $19.6

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 second quarter of 2018 to the second quarter of 2020. 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 second quarter of 2018 and continuing for each quarter until the second quarter of 2020.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 14. 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 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.

For the first quarter of 2020, the West Region remained at 4 filings, the Ontario Region dropped to 5 filings, and the East Region dropped to 2 filings.

For the second quarter of 2020, the West Region increased to 12 filings, the Ontario Region increased to 10 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 second quarter of 2020, British Columbia had 3 filings (11%), Quebec had 5 filings (19%), Ontario had 10 filings (37%), and Alberta had 9 filings (33%).

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 second quarter of 2020.

The x-axis represents the sectors which had filings in the second quarter of 2020. There are 10 sectors represented, each shown with a blue vertical bar. The 10 sectors represented in the second quarter of 2020 are as below:

  1. The manufacturing sector had 4 filings.
  2. The management of companies and enterprises sector had 1 filing.
  3. The agriculture, forestry, fishing and hunting sector had 3 filings.
  4. The construction sector had 1 filing.
  5. The mining, quarrying and oil and gas extraction sector had 7 filings.
  6. The administrative and support, waste management and remediation services sector had 2 filings.
  7. The retail trade sector had 4 filings.
  8. The real estate and rental and leasing sector had 3 filings.
  9. The arts, entertainment and recreation sector had 1 filing.
  10. The other services (except public administration) 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 7.

[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.

Table 1: Total CCAA Proceedings―Domestic
  Volume +/- Change 12-Month Period Ending
Q2 2020 Q1 2020 Q2 2019 Q1 2020 – Q2 2020 Q2 2019 – Q2 2020 06-30-2020 06-30-2019 +/- Change
Total Domestic Proceedings FiledFootnote1 27 11 4 16 23 59 29 30
Filing Affiliates
114 24 25 90 89 284 230 54
Filed by Publicly-Traded Companies
7 3 1 4 6 17 5 12
Filed by Privately-Traded Companies
20 8 3 12 17 42 24 18
Total Liabilities – Book Value ($ millions)Footnote2 $6,078.279 $589.213 $607.764 $5,489.067 $5,470.515 $11,584.129 $5,678.610 $5,905.518
% of Secured Liabilities
51.95% 49.02% 40.83% n/a n/a 60.78% 41.00% n/a
% of Unsecured Liabilities
48.05% 50.98% 59.17% n/a n/a 39.22% 59.00% n/a
Total Assets – Book Value ($ millions) $6,600.273 $1,059.618 $955.922 $5,540.655 $5,644.350 $17,489.025 $12,713.740 $4,775.285
Table 2: CCAA Proceedings Filed by province
Volume +/- Change 12-Month Period Ending
Q2 2020 Q1 2020 Q2 2019 Q1 2020 – Q2 2020 Q2 2019 – Q2 2020 06-30-2020 06-30-2019 +/- Change
Newfoundland and Labrador 0 0 1 0 -1 0 1 -1
Prince Edward Island 0 0 0 0 0 0 0 0
Nova Scotia 0 0 0 0 0 0 2 -2
New Brunswick 0 0 0 0 0 0 0 0
Quebec 5 2 1 3 4 13 6 7
Ontario 10 5 1 5 9 23 11 12
Manitoba 0 0 0 0 0 0 0 0
Saskatchewan 0 1 0 -1 0 1 0 1
Alberta 9 0 1 9 8 13 5 8
British Columbia 3 3 0 0 3 9 4 5
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 27 11 4 16 23 59 29 30
Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada Footnote 3
Volume +/- Change 12-Month Period Ending
Q2 2020 Q1 2020 Q2 2019 Q1 2020 – Q2 2020 Q2 2019 – Q2 2020 06-30-2020 06-30-2019 +/- Change
Agriculture, Forestry, Fishing and Hunting 3 1 0 2 3 8 1 7
Mining, Quarrying and Oil and Gas Extraction 7 1 2 6 5 15 5 10
Utilities 0 0 0 0 0 0 1 -1
Construction 1 1 1 0 0 3 3 0
Manufacturing 4 3 1 1 3 10 6 4
Wholesale Trade 0 0 0 0 0 2 3 -1
Retail Trade 4 1 0 3 4 6 2 4
Transportation and Warehousing 0 0 0 0 0 1 3 -2
Information and Cultural Industries 0 0 0 0 0 1 1 0
Finance and Insurance 0 0 0 0 0 0 1 -1
Real Estate, Rental and Leasing 3 1 0 2 3 5 0 5
Professional, Scientific and Technical Services 0 0 0 0 0 0 2 -2
Management of Companies and Enterprises 1 1 0 0 1 2 0 2
Administrative and Support, Waste Management and Remediation Services 2 1 0 1 2 3 1 2
Educational Services 0 1 0 -1 0 1 0 1
Health Care and Social Assistance 0 0 0 0 0 0 0 0
Arts, Entertainment and Recreation 1 0 0 1 1 1 0 1
Accommodation and Food Services 0 0 0 0 0 0 0 0
Other Services (except Public Administration) 1 0 0 1 1 1 0 1
Public Administration 0 0 0 0 0 0 0 0
Canada 27 11 4 16 23 59 29 30
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