Highlights
Read the report Insolvency Statistics in Canada—June 2015
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 2.0 percent in June 2015 from the previous month. Bankruptcies increased by 1.9 percent and proposals increased by 2.2 percent.
The total number of insolvencies in June 2015 was 10.2 percent higher than the total number of insolvencies in June 2014. Consumer insolvencies increased by 10.1 percent, while business insolvencies increased by 11.9 percent.
For the 12-month period ending June 30, 2015, the total number of insolvencies increased by 1.7 percent compared with the 12-month period ending June 30, 2014.
Consumer insolvencies for the 12-month period ending June 30, 2015, increased by 1.8 percent compared with the
12-month period ending June 30, 2014. Consumer bankruptcies decreased by 4.2 percent, while consumer proposals increased by 9.5 percent. The proportion of proposals in consumer insolvencies increased to 46.6 percent during the 12-month period ending June 30, 2015, up from 43.3 percent during the 12-month period ending June 30, 2014. For the 12-month period ending June 30, 2015, consumer insolvency filings accounted for 96.6 percent of the total insolvency filings.
Business insolvencies for the 12-month period ending June 30, 2015, remained unchanged compared with the
12-month period ending June 30, 2014. The three sectors that registered the biggest decrease in the number of insolvencies were agriculture, forestry, fishing and hunting; other services (except public administration); and real estate and rental and leasing. Accommodation and food services; transportation and warehousing; and information and cultural industries experienced the biggest increase in insolvencies.
Five Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in June 2015. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—June 2015 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.