PDF version
Sections
- Highlights
- Table 1: Total CCAA Proceedings—Domestic
- Table 2: Total CCAA Proceedings Filed by Province
- Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada
Definitions
- CCAA:
- The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. CCAA proceedings are carried out under supervision of the courts.
- North American Industry Classification System (NAICS):
- The NAICS is an industry classification system that classifies economic units that have similar production processes in the same industry. This is a supply-based or production-oriented economic concept.
Highlights
Five Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the second quarter of 2017. Please refer to the CCAA Records List for additional details regarding each filing.
Company Name | Province | Sector | Monitor | Liabilities (in millions) |
---|---|---|---|---|
Walton International Group Inc. | Alberta | Real estate and rental and leasing | EY | $629 |
Express Fashion Apparel Canada Inc. | Ontario | Retail trade | Alvarez & Marsal | $132 |
Orbite Technologies Inc. | Québec | Manufacturing | PwC | $51 |
Gestion Eric Savard Inc., et al. | Québec | Health care and social assistance | Raymond Chabot | $41 |
Sears Canada Inc. | Ontario | Retail trade | FTI Consulting Canada | $1076 |
Figure 1: Filings by region
For more information, see Table 2: Total CCAA Proceedings Filed by Province
Figure 2: Filings by NAICS Economic Sector
For more information, see Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada
Company Name | Sector | Monitor | Outcome | Duration of the Proceedings (in days) | Liabilities (in millions) |
---|---|---|---|---|---|
TLC The Land Conservancy of British Columbia, Inc. | Arts, entertainment and recreation | Wolrige Mahon Limited | Concluded – compromise or arrangement completed | 1246 | $8 |
Becker Cogeneration Plant | Utilities | PwC | Terminated – no compromise or arrangement sanctioned by court | 395 | $71 |
McDiarmid Lumber Ltd. | Retail trade | PwC | Terminated – no compromise or arrangement sanctioned by court | 1418 | $55 |
Yukon Zinc Corporation | Mining, quarrying, and oil and gas extraction | PwC | Concluded – compromise or arrangement completed | 745 | $672 |
MBAC Fertilizer Corp. | Mining, quarrying, and oil and gas extraction | EY | Concluded – compromise or arrangement completed | 186 | $351 |
Ben Moss Jewellers Western Canada Ltd. | Retail trade | Alvarez & Marsal | Terminated – no compromise or arrangement sanctioned by court | 345 | $130 |
Magasin Laura (P.V.) Inc. | Retail trade | KPMG | Concluded – compromise or arrangement completed | 491 | $90 |
iMarketing Solutions Group Inc. | Professional, scientific and technical services | KSV | Terminated – no compromise or arrangement sanctioned by court | 1489 | $13 |
Type | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q2 2017 | Q1 2017 | Q2 2016 | Q1 2017 – Q2 2017 | Q2 2016 – Q2 2017 | 06-30-2017 | 06-30-2016 | +/ Change | |
Total Domestic Proceedings FiledFootnote1 | 5 | 3 | 13 | 2 | -8 | 27 | 35 | -8 |
Filing Affiliates | 174 | 4 | 41 | 170 | 133 | 384 | 85 | 299 |
Filed by Publicly-Traded Companies | 2 | 0 | 3 | 2 | -1 | 8 | 7 | 1 |
Filed by Privately-Held Companies | 3 | 3 | 10 | 0 | -7 | 19 | 28 | -9 |
Total Liabilities—Book Value ($ millions)Footnote2 | $1,959.885 | $153.220 | $9,808.433 | $1,806.664 | -$7,848.548 | $6,707.552 | $14,435.303 | -$7,727.752 |
% of Secured Liabilities | 27.72% | 20.03% | 12.04% | n/a | n/a | 46.92% | 22.22% | n/a |
% of Unsecured Liabilities | 72.28% | 79.97% | 87.96% | n/a | n/a | 53.08% | 77.78% | n/a |
Total Assets—Book Value ($ millions) | $2,153.967 | $124.030 | $7,365.518 | $2,029.936 | -$5,211.552 | $6,212.383 | $11,558.581 | -$5,346.198 |
Province/territory | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q2 2017 | Q1 2017 | Q2 2016 | Q1 2017 – Q2 2017 | Q2 2016 – Q2 2017 | 06-30-2017 | 06-30-2016 | +/ Change | |
Newfoundland and Labrador | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Prince Edward Island | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nova Scotia | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 1 |
New Brunswick | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quebec | 2 | 2 | 1 | 0 | 1 | 6 | 9 | -3 |
Ontario | 2 | 1 | 4 | 1 | -2 | 12 | 9 | 3 |
Manitoba | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Saskatchewan | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Alberta | 1 | 0 | 6 | 1 | -5 | 5 | 12 | -7 |
British Columbia | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 0 |
Northwest Territories | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Yukon | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nunavut | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Canada | 5 | 3 | 13 | 2 | -8 | 27 | 35 | -8 |
Sector | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q2 2017 | Q1 2017 | Q2 2016 | Q1 2017 –Q2 2017 | Q2 2016 –Q2 2017 | 06-30-2017 | 06-30-2016 | +/ Change | |
Agriculture, Forestry, Fishing and Hunting | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
Mining and Oil and Gas Extraction | 0 | 0 | 5 | 0 | -5 | 4 | 10 | -6 |
Utilities | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 |
Construction | 0 | 0 | 3 | 0 | -3 | 4 | 5 | -1 |
Manufacturing | 1 | 1 | 0 | 0 | 1 | 5 | 3 | 2 |
Wholesale Trade | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Retail Trade | 2 | 1 | 2 | 1 | 0 | 4 | 6 | -2 |
Transportation and Warehousing | 0 | 0 | 1 | 0 | -1 | 1 | 2 | -1 |
Information and Cultural Industries | 0 | 0 | 1 | 0 | -1 | 2 | 2 | 0 |
Finance and Insurance | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Real Estate, Rental and Leasing | 1 | 1 | 0 | 0 | 1 | 3 | 0 | 3 |
Professional, Scientific and Technical Services | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 |
Management of Companies and Enterprises | 0 | 0 | 1 | 0 | -1 | 1 | 2 | -1 |
Administrative and Support, Waste Management and Remediation Services | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Educational Services | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Health Care and Social Assistance | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 |
Arts, Entertainment and Recreation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 |
Accommodation and Food Services | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Services (except Public Administration) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Public Administration | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Canada | 5 | 3 | 13 | 2 | -8 | 27 | 35 | -8 |