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Sections
- Highlights
- Table 1: Total CCAA Proceedings—Domestic
- Table 2: Total CCAA Proceedings—Cross-Border
- Table 3: Total CCAA Proceedings Filed by Province
- Table 4: CCAA Proceedings Filed by NAICS Economic Sector, Canada
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.
Cross-Border Proceedings: When a proceeding is filed in a foreign jurisdiction where the debtor company has the centre of its main interests, it is referred to as a foreign main proceeding. Proceedings brought before any other court would generally be referred to as foreign non-main proceedings.
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
Nine Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the third quarter of 2016. Please refer to the CCAA Records List for additional details regarding each filing.
Company Name | Province | Sector | Monitor | Liabilities (in millions) |
---|---|---|---|---|
Carmen International Inc. | Quebec | Manufacturing | Litwin Boyadjian Inc. | $55 |
Golf Town Canada Holdings Inc. | Ontario | Retail trade | FTI Consulting Canada Inc. | $282 |
H.B. White Canada Corp. | Ontario | Construction | Alvarez & Marsal Canada Inc. | $348 |
Hefler Forest Products Limited | Nova Scotia | Manufacturing | Green Landers Limited | $33 |
Lightstream Resources Ltd. | Alberta | Mining, quarrying, and oil and gas extraction | FTI Consulting Canada Inc. | $1,912 |
MBAC Fertilizer Corp. | Ontario | Mining, quarrying, and oil and gas extraction | Ernst & Young Inc. | $351 |
OmniArch Capital Corporation | Alberta | Finance and insurance | Ernst & Young Inc. | $126 |
Quattro Exploration and Production Ltd. | Alberta | Mining, quarrying, and oil and gas extraction | Hardie & Kelly Inc. | $50 |
Victory Farms Incorporated and Jonathan Mullen Mink Ranch Limited | Nova Scotia | Agriculture, forestry, fishing and hunting | Deloitte Restructuring Inc. | $14 |
Figure 1: Filings by region
* East Region includes Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador
Ontario Region includes Ontario
West Region includes British Columbia, Yukon, Alberta, Northwest Territories, Saskatchewan, Manitoba and Nunavut
For more information, see Table 3: Total CCAA Proceedings Filed by Province
Figure 2: Filings by NAICS Economic Sector
For more information, see Table 4: CCAA Proceedings Filed by NAICS Economic Sector, Canada
Recently closed filesFootnote *
Company Name | Sector | Monitor | Outcome | Duration (in days) | Liabilities (in millions) |
---|---|---|---|---|---|
Azure Dynamics Corp. | Manufacturing | Ernst & Young Inc. | Terminated – no compromise or arrangement sanctioned by court | 1,549 | $29 |
Charles Morissette Inc. | Construction | Mallette Syndics et Gestionnaires Inc. | Concluded – compromise or arrangement completed | 975 | $5 |
Cline Mining Corp. | Mining, quarrying, and oil and gas extraction | FTI Consulting Canada Inc. | Concluded – compromise or arrangement completed | 239 | $99 |
Prosep Inc. | Management of companies and enterprises | KPMG Inc. | Concluded – compromise or arrangement completed | 805 | $23 |
Shoreline Energy Corp. | Mining, quarrying, and oil and gas extraction | Grant Thornton Limited | Taken up under BIA | 501 | $42 |
TravelBrands Inc. | Administrative and support, waste management and remediation services | KPMG Inc. | Concluded – compromise or arrangement completed | 258 | $206 |
Verity Energy Ltd. | Mining, quarrying, and oil and gas extraction | Grant Thornton Limited | Terminated – no compromise or arrangement sanctioned by court | 210 | $31 |
Type | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q3 2016 | Q2 2016 | Q3 2015 | Q2 2016 – Q3 2016 | Q3 2015 – Q3 2016 | 09-30-2016 | 09-30-2015 | +/ Change | |
Total Domestic Proceedings FiledFootnote1 | 9 | 13 | 4 | -4 | 5 | 40 | 39 | 1 |
Filing Affiliates | 24 | 41 | 6 | -17 | 18 | 103 | 73 | 30 |
Filed by Publicly-Traded Companies | 3 | 3 | 0 | 0 | 3 | 10 | 10 | 0 |
Filed by Privately-Held Companies | 6 | 10 | 4 | -4 | 2 | 30 | 29 | 1 |
Total Liabilities—Book Value ($ millions)Footnote2 | $3,171.142 | $9,808.433 | $232.254 | -$6,637.291 | $2,938.887 | $17,374.191 | $20,692.887 | -$3,318.696 |
% of Secured Liabilities | 51.75% | 12.04% | 57.98% | 27.13% | 24.25% | |||
% of Unsecured Liabilities | 48.25% | 87.96% | 42.02% | 72.87% | 75.75% | |||
Total Assets— Book Value ($ millions) | $2,455.897 | $7,365.518 | $252.793 | -$4,909.621 | $2,203.104 | $13,761.685 | $20,829.911 | -$7,068.226 |
Table 2: Total CCAA Proceedings—Cross-Border
CCAA cross-border proceedings are no longer included in this report.
Province/territory | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q3 2016 | Q2 2016 | Q3 2015 | Q2 2016 – Q3 2016 | Q3 2015 – Q3 2016 | 09-30-2016 | 09-30-2015 | +/ Change | |
Newfoundland and Labrador | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Prince Edward Island | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Nova Scotia | 2 | no data | 1 | 2 | 1 | 2 | 1 | 1 |
Domestic | 2 | no data | 1 | 2 | 1 | 2 | 1 | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
New Brunswick | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Quebec | 1 | 1 | 2 | no data | -1 | 8 | 11 | -3 |
Domestic | 1 | 1 | 2 | no data | -1 | 8 | 11 | -3 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Ontario | 3 | 4 | no data | -1 | 3 | 12 | 12 | no data |
Domestic | 3 | 4 | no data | -1 | 3 | 12 | 12 | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Manitoba | no data | 1 | no data | -1 | no data | 1 | no data | 1 |
Domestic | no data | 1 | no data | -1 | no data | 1 | no data | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Saskatchewan | no data | 1 | no data | -1 | no data | 1 | 1 | no data |
Domestic | no data | 1 | no data | -1 | no data | 1 | 1 | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Alberta | 3 | 6 | 1 | -3 | 2 | 14 | 8 | 6 |
Domestic | 3 | 6 | 1 | -3 | 2 | 14 | 8 | 6 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
British Columbia | no data | no data | no data | no data | no data | 2 | 5 | -3 |
Domestic | no data | no data | no data | no data | no data | 2 | 5 | -3 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Northwest Territories | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Yukon | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Nunavut | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Canada | 9 | 13 | 4 | -4 | 5 | 40 | 39 | 1 |
Domestic | 9 | 13 | 4 | -4 | 5 | 40 | 39 | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Sector | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q3 2016 | Q2 2016 | Q3 2015 | Q2 2016 – Q3 2016 | Q3 2015 – Q3 2016 | 09-30-2016 | 09-30-2015 | +/ Change | |
Agriculture, Forestry, Fishing and Hunting | 1 | no data | 1 | 1 | no data | 1 | 2 | -1 |
Domestic | 1 | no data | 1 | 1 | no data | 1 | 2 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Mining and Oil and Gas Extraction | 3 | 5 | 1 | -2 | 2 | 12 | 17 | -5 |
Domestic | 3 | 5 | 1 | -2 | 2 | 12 | 17 | -5 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Utilities | no data | no data | no data | no data | no data | 1 | no data | 1 |
Domestic | no data | no data | no data | no data | no data | 1 | no data | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Construction | 1 | 3 | no data | -2 | 1 | 6 | 3 | 3 |
Domestic | 1 | 3 | no data | -2 | 1 | 6 | 3 | 3 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Manufacturing | 2 | no data | no data | 2 | 2 | 5 | 4 | 1 |
Domestic | 2 | no data | no data | 2 | 2 | 5 | 4 | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Wholesale Trade | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Retail Trade | 1 | 2 | 1 | -1 | no data | 6 | 3 | 3 |
Domestic | 1 | 2 | 1 | -1 | no data | 6 | 3 | 3 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Transportation and Warehousing | no data | 1 | 1 | -1 | -1 | 1 | 1 | no data |
Domestic | no data | 1 | 1 | -1 | -1 | 1 | 1 | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Information and Cultural Industries | no data | 1 | no data | -1 | no data | 2 | 1 | 1 |
Domestic | no data | 1 | no data | -1 | no data | 2 | 1 | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Finance and Insurance | 1 | no data | no data | 1 | 1 | 1 | 2 | -1 |
Domestic | 1 | no data | no data | 1 | 1 | 1 | 2 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Real Estate, Rental and Leasing | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Professional, Scientific and Technical Services | no data | no data | no data | no data | no data | 1 | 2 | -1 |
Domestic | no data | no data | no data | no data | no data | 1 | 2 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Management of Companies and Enterprises | no data | 1 | no data | -1 | no data | 2 | no data | 2 |
Domestic | no data | 1 | no data | -1 | no data | 2 | no data | 2 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Administrative and Support, Waste Management and Remediation Services | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Educational Services | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Health Care and Social Assistance | no data | no data | no data | no data | no data | 1 | no data | 1 |
Domestic | no data | no data | no data | no data | no data | 1 | no data | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Arts, Entertainment and Recreation | no data | no data | no data | no data | no data | 1 | no data | 1 |
Domestic | no data | no data | no data | no data | no data | 1 | no data | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Accommodation and Food Services | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Other Services (except Public Administration) | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Public Administration | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Canada | 9 | 13 | 4 | -4 | 5 | 40 | 39 | 1 |
Domestic | 9 | 13 | 4 | -4 | 5 | 40 | 39 | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |