Highlights
Read the report Insolvency Statistics in Canada—September 2014
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 10.1 percent in September 2014 from the previous month. Bankruptcies increased by 11.5 percent and proposals increased by 8.5 percent.
The total number of insolvencies in September 2014 was 2.5 percent higher than the total number of insolvencies in September 2013. Consumer insolvencies increased by 2.7 percent, while business insolvencies decreased by 5.4 percent.
For the 12-month period ending September 30, 2014, the total number of insolvencies decreased by 0.7 percent compared with the 12-month period ending September 30, 2013.
Consumer insolvencies for the 12-month period ending September 30, 2014, decreased by 0.7 percent compared with the 12-month period ending September 30, 2013. Consumer bankruptcies decreased by 5.8 percent, while consumer proposals increased by 6.7 percent. The proportion of proposals in consumer insolvencies increased to 44.3 percent during the 12-month period ending September 30, 2014, up from 41.2 percent during the 12-month period ending September 30, 2013. For the 12-month period ending September 30, 2014, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.
Business insolvencies for the 12-month period ending September 30, 2014, decreased by 1.5 percent compared with the 12-month period ending September 30, 2013. The three sectors that registered the biggest decrease in the number of insolvencies were construction; transportation and warehousing; and manufacturing, whereas health care and social assistance; real estate and rental and leasing; and accommodation and food services experienced the biggest increase in insolvencies.
Two Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in September 2014. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—September 2014 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.
Read the report Insolvency Statistics in Canada—September 2014