Highlights
Insolvency Statistics in Canada — November 2009

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 2.9 percent in November 2009 from the previous month. Bankruptcies decreased by 4.0 percent whereas proposals decreased by 0.1 percent. Historically, monthly variations between the months of October and November have been mostly negative. In the last 10 years, total insolvencies filed in the month of November have been lower than in October on seven occurrences.

In comparison with the same month last year, the total number of insolvencies in November 2009 was 12.8 percent higher than the number in November 2008. Consumer insolvencies have increased by 14.4 percent while business insolvencies decreased by 14.7 percent.

For the 12-month period ending November 30, 2009, total insolvencies increased by 31.4 percent compared to the 12-month period ending November 30, 2008. This is entirely due to an increase in consumer insolvencies.

Business insolvencies for the 12-month period ending November 30, 2009 fell by 8.5 percent compared with the 12 months ending November 30, 2008. A significant reduction in insolvencies in the Construction; Transportation and Warehousing; Agriculture, Forestry, Fishing and Hunting; and Retail Trade sectors contributed to this decrease.

In November, one Companies’ Creditors Arrangement Act (CCAA) proceeding was filed. For more information on this file please consult the CCAA Records. Note: The Insolvency Statistics in Canada – November 2009 Report does not include CCAA filings.

Read the report Insolvency Statistics in Canada — November 2009.