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Sections
- Highlights
- Table 1: Total CCAA Proceedings—Domestic
- Table 2: Total CCAA Proceedings Filed by Province
- Table 3: 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.
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
Six Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the fourth quarter of 2018. Please refer to the CCAA Records List for additional details regarding each filing.
Company Name | Province | Sector | Monitor | Liabilities (in millions) |
---|---|---|---|---|
Forme Development Group Inc. | Ontario | Construction | KSV Kofman Inc. | $101 |
OpenHydro Technology Canada Ltd. | Nova Scotia | Utilities | Grant Thornton Limited | $6 |
Gestion Maison Éthier Inc. et Gestion Immobilière Maison Éthier Inc. | Quebec | Retail Trade | KPMG Inc. | $23 |
Harvest Fraser Richmond Organics Ltd. | British Columbia | Administrative and Support, Waste Management and Remediation Services | Ernst & Young Inc. | $39 |
Purewal Blueberry Farms Ltd. | British Columbia | Agriculture, Forestry, Fishing and Hunting | FTI Consulting Canada Inc. | $16 |
V.A. Inc.,Location V.A. Inc., 9288-7561 Québec Inc. et 9001-6346 Québec Inc | Quebec | Transportation and Warehousing | Raymond Chabot Inc. | $16 |
Figure 1: Filings by regionFootnote*
For more information, see Table 2: Total CCAA Proceedings Filed by Province
Figure 2: Filings by NAICS economic sector
For more information, see Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada
Company Name | Sector | Monitor | Outcome | Duration of the Proceedings (in days) | Liabilities (in millions) |
---|---|---|---|---|---|
669699 N.B. Ltd., New Future Lumber Ltd., MP Atlantic Wood Ltd. | Manufacturing | Powell Associates Ltd. | Taken up under BIA | 271 | $15 |
Lemare Holdings Ltd. et al. | Agriculture, forestry, fishing and hunting | Alvarez & Marsal Canada Inc. | Concluded – compromise or arrangement completed | 889 | $14 |
Victory Farms Incorporated and Jonathan Mullen Mink Ranch Limited | Agriculture, forestry, fishing and hunting | Deloitte Restructuring Inc. | Terminated – no compromise or arrangement sanctioned by the court | 448 | $13 |
- Footnote *(2)
-
Some files may have been closed before the beginning of the quarter. For exact closing dates, please refer to the CCAA Records List.
Type | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q4 2018 | Q3 2018 | Q4 2017 | Q3 2018 – Q4 2018 | Q4 2017 – Q4 2018 | 12-31-2018 | 12-31-2017 | +/ Change | |
Total Domestic Proceedings FiledFootnote1 | 6 | 6 | 12 | 0 | -6 | 20 | 23 | -3 |
Filing Affiliates | 20 | 33 | 28 | -13 | -8 | 69 | 215 | -146 |
Filed by Publicly-Traded Companies | 0 | 1 | 0 | -1 | 0 | 1 | 2 | -1 |
Filed by Privately-Held Companies | 6 | 5 | 12 | 1 | -6 | 19 | 21 | -2 |
Total Liabilities - Book Value Footnote2,Footnote 3 | $.2009B | $1.236B | $.7327B | -$1.036B | -$.5319B | $5.219B | $3.458B | $1.761B |
% of Secured Liabilities | 48.10% | 49.46% | 84.75% | n/a | n/a | 28.61% | 46.91% | n/a |
% of Unsecured Liabilities | 51.90% | 50.54% | 15.25% | n/a | n/a | 71.39% | 53.09% | n/a |
Total Assets - Book Value | $.1751B | $.9496B | $.8683B | -$.7745B | -$.6932B | $4.688B | $3.818B | $.8689B |
Volume | +/- Change | 12-Month Period Ending | ||||||
---|---|---|---|---|---|---|---|---|
Q4 2018 | Q3 2018 | Q4 2017 | Q3 2018 – Q4 2018 | Q4 2017 – Q4 2018 | 12-31-2018 | 12-31-2017 | +/- Change | |
Newfoundland and Labrador | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Prince Edward Island | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nova Scotia | 1 | 0 | 1 | 1 | 0 | 2 | 1 | 1 |
New Brunswick | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Quebec | 2 | 1 | 5 | 1 | -3 | 5 | 9 | -4 |
Ontario | 1 | 3 | 1 | -2 | 0 | 8 | 6 | 2 |
Manitoba | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Saskatchewan | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Alberta | 0 | 2 | 1 | -2 | -1 | 2 | 3 | -1 |
British Columbia | 2 | 0 | 2 | 2 | 0 | 3 | 2 | 1 |
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 | 6 | 6 | 12 | 0 | -6 | 20 | 23 | -3 |
Sector | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q4 2018 | Q3 2018 | Q4 2017 | Q3 2018 – Q4 2018 | Q4 2017 – Q4 2018 | 12-31-2018 | 12-31-2017 | +/ Change | |
Agriculture, Forestry, Fishing and Hunting | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 1 |
Mining and Oil and Gas Extraction | 0 | 1 | 1 | -1 | -1 | 3 | 1 | 2 |
Utilities | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 |
Construction | 1 | 1 | 1 | 0 | 0 | 3 | 1 | 2 |
Manufacturing | 0 | 2 | 1 | -2 | -1 | 3 | 2 | 1 |
Wholesale Trade | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Retail Trade | 1 | 0 | 3 | 1 | -2 | 2 | 6 | -4 |
Transportation and Warehousing | 1 | 1 | 1 | 0 | 0 | 3 | 1 | 2 |
Information and Cultural Industries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Finance and Insurance | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Real Estate, Rental and Leasing | 0 | 0 | 0 | 0 | 0 | 0 | 2 | -2 |
Professional, Scientific and Technical Services | 0 | 1 | 0 | -1 | 0 | 1 | 0 | 1 |
Management of Companies and Enterprises | 0 | 0 | 3 | 0 | -3 | 0 | 3 | -3 |
Administrative and Support, Waste Management and Remediation Services | 1 | 0 | 0 | 1 | 1 | 2 | 0 | 2 |
Educational Services | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Health Care and Social Assistance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Arts, Entertainment and Recreation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accommodation and Food Services | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
Other Services (except Public Administration) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Public Administration | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Canada | 6 | 6 | 12 | 0 | -7 | 20 | 20 | 0 |