Highlights
Read the report Insolvency Statistics in Canada—April 2014
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 3.5 percent in April 2014 from the previous month. Bankruptcies increased by 8.3 percent, whereas proposals decreased by 2.1 percent.
The total number of insolvencies in April 2014 was 3.7 percent lower than the total number of insolvencies in April 2013. Consumer insolvencies decreased by 3.7 percent, while business insolvencies decreased by 1.5 percent.
For the 12-month period ending April 30, 2014, the total number of insolvencies increased by 0.5 percent compared with the 12-month period ending April 30, 2013.
Consumer insolvencies for the 12-month period ending April 30, 2014, increased by 0.6 percent compared with the 12-month period ending April 30, 2013. Consumer bankruptcies decreased by 3.6 percent, while consumer proposals increased by 6.7 percent. The proportion of proposals in consumer insolvencies increased to 42.8 percent during the 12-month period ending April 30, 2014, up from 40.3 percent during the 12-month period ending April 30, 2013. For the 12-month period ending April 30, 2014, 96.5 percent of total insolvencies were filed by consumers.
Business insolvencies for the 12-month period ending April 30, 2014, decreased by 0.8 percent compared with the 12-month period ending April 30, 2013. The two sectors that registered the biggest decrease in the number of insolvencies were construction and retail trade, whereas the real estate and rental and leasing; and accommodation and food services sectors experienced the biggest increases in insolvencies.
One Companies' Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in April 2014. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—April 2014 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.