Highlights
Read the report Insolvency Statistics in Canada—December 2018.
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 20.9% in December 2018 compared to the previous month. Bankruptcies decreased by 16.4% and proposals decreased by 24.2%.
The total number of insolvencies in December 2018 was 3.8% higher than the total number of insolvencies in December 2017. Consumer insolvencies increased by 4.1%, while business insolvencies decreased by 4.0%.
For the 12-month period ending December 31, 2018, the total number of insolvencies increased by 2.4% compared with the 12-month period ending December 31, 2017.
Consumer insolvencies for the 12-month period ending December 31, 2018, increased by 2.5% compared with the 12-month period ending December 31, 2017. Consumer bankruptcies decreased by 5.0%, while consumer proposals increased by 9.3%. The proportion of proposals in consumer insolvencies increased to 56.0% during the 12-month period ending December 31, 2018, up from 52.6% during the 12-month period ending December 31, 2017. For the 12-month ending December 31, 2018, consumer insolvency filings accounted for 97.2% of total insolvency filings.
Business insolvencies for the 12-month period ending December 31, 2018, decreased by 0.8% compared with the 12-month period ending December 31, 2017. The two sectors that registered the biggest decrease in the number of insolvencies were manufacturing; and mining, oil and gas extraction. Construction; and real estate and rental and leasing experienced the biggest increase in insolvencies.
One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in December 2018. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada reports, which pertain to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, do not include CCAA filings.
Read the report Insolvency Statistics in Canada—December 2018.