Insolvency Statistics in Canada—November 2014
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 13.1 percent in November 2014 from the previous month. Bankruptcies decreased by 12.9 percent and proposals decreased by 13.3 percent.
The total number of insolvencies in November 2014 was 4.3 percent lower than the total number of insolvencies in November 2013. Consumer insolvencies decreased by 4.5 percent, while business insolvencies increased by 3.8 percent.
For the 12-month period ending , the total number of insolvencies decreased by 0.9 percent compared with the 12-month period ending .
Consumer insolvencies for the 12-month period ending , decreased by 0.9 percent compared with the 12-month period ending . Consumer bankruptcies decreased by 6.6 percent, while consumer proposals increased by 7.0 percent. The proportion of proposals in consumer insolvencies increased to 44.9 percent during the 12-month period ending November 30, 2014, up from 41.6 percent during the 12-month period ending . For the 12-month period ending , consumer insolvency filings accounted for 96.5 percent of the total insolvency filings.
Business insolvencies for the 12-month period ending , decreased by 0.5 percent compared with the 12-month period ending . The two sectors that registered the biggest decrease in the number of insolvencies were other services (except public administration); and agriculture, forestry, fishing and hunting, whereas health care and social assistance; and accommodation and food services experienced the biggest increase in insolvencies.
Three Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in November 2014. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada—November 2014 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.
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