Highlights
Insolvency Statistics in Canada — May 2010

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 11.3 percent in May 2010 from the previous month. Bankruptcies decreased by 9.2 percent whereas proposals decreased by 16.1 percent. Over the last 10 years, the total number of insolvencies filed in the month of May was lower than the total number filed in April seven times.

The total number of insolvencies in May 2010 was 12.8 percent lower than the total number of insolvencies in May 2009. Consumer insolvencies have decreased by 12.0 percent while business insolvencies have decreased by 29.8 percent.

For the 12-month period ending May 31, 2010, total insolvencies increased by 10.2 percent compared with the 12-month period ending May 31, 2009. This is entirely due to an increase in consumer insolvencies.

Business insolvencies for the 12-month period ending May 31, 2010, fell by 13.2 percent compared with the 12-month period ending May 31, 2009. A reduction in insolvencies in the transportation and warehousing; construction; and other services (except public administration) sectors contributed to this decrease.

In May 2010, two Companies’ Creditors Arrangement Act (CCAA) proceedings were filed. Please refer to CCAA Records for additional details. Note: Insolvency Statistics in Canada – May 2010, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Read the report Insolvency Statistics in Canada — May 2010.