Highlights
Insolvency Statistics in Canada—December 2011

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 15.3 percent in December 2011 from the previous month. Bankruptcies decreased by 12.6 percent, whereas proposals decreased by 19.7 percent.

The total number of insolvencies in December 2011 was 7.8 percent lower than the total number of insolvencies in December 2010. Consumer insolvencies have decreased by 7.5 percent, while business insolvencies have decreased by 13.8 percent.

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

Consumer insolvencies for the 12-month period ending , decreased by 8.9 percent compared with the 12-month period ending . Consumer bankruptcies decreased by 15.9 percent, while consumer proposals increased by 6.4 percent. The proportion of proposals in consumer insolvencies increased to 36.6 percent during the 12-month period ending , up from 31.3 percent during the 12-month period ending . For the 12-month period ending , 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending , fell by 8.6 percent compared with the 12-month period ending . The three sectors that registered the biggest decrease in the number of insolvencies were retail trade; transportation and warehousing; and construction.

Ten Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in December 2011. Please refer to CCAA Statistics in Canada – Fourth Quarter of 2011. Note: The Insolvency Statistics in Canada—December 2011 report, 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—December 2011.