Highlights
Insolvency Statistics in Canada — November 2011

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 8.7 percent in November 2011 from the previous monthFootnote r. Bankruptcies increased by 5.7 percent, whereas proposals increased by 13.9 percent.

The total number of insolvencies in November 2011 was 9.3 percent lower than the total number of insolvencies in November 2010. Consumer insolvencies have decreased by 9.5 percent, while business insolvencies have decreased by 2.8 percent.

For the 12-month period ending November 30, 2011, the total number of insolvencies decreased by 8.9 percent compared with the 12-month period ending November 30, 2010.

Consumer insolvencies for the 12-month period ending November 30, 2011, decreased by 8.9 percent compared with the 12-month period ending November 30, 2010. Consumer bankruptcies decreased by 15.8 percent, while consumer proposals increased by 6.4 percent. The proportion of proposals in consumer insolvencies increased to 36.2 percent during the 12-month period ending November 30, 2011, up from 31.0 percent during the 12-month period ending November 30, 2010. For the 12-month period ending November 30, 2011, 96.2 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending November 30, 2011, fell by 8.0 percent compared with the 12-month period ending November 30, 2010. The three sectors that registered the biggest decrease in the number of insolvencies were transportation and warehousing; retail trade; and construction.

As of February 3, 2012, three Companies' Creditors Arrangement Act (CCAA) proceedings initiated in November 2011 were filed with the OSB. Please refer to the CCAA records for additional details. Note: The Insolvency Statistics in Canada – November 2011 report, which pertains to bankruptcies and proposals filed under the BIA, does not include CCAA filings.

Read the report Insolvency Statistics in Canada – November 2011.


Footnotes

  • r Please note that the Insolvency Statistics in Canada – October 2011 report was revised on January 19, 2012, due to an error in the total volume of business proposals in October 2011.