CCAA Statistics—Fourth Quarter of 2017

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Companies' Creditors Arrangement Act Statistics in Canada—Fourth Quarter of 2017

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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

Twelve Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the fourth quarter of 2017. Please refer to the CCAA Records List for additional details regarding each filing.

Companies' Creditors Arrangement Act (CCAA) proceedings filed with OSB
Company Name Province Sector Monitor Liabilities
(in millions)
Java-U Group Inc., Java-U Food Services Inc., Café Java-U Inc., Java-U RTA Inc. QC Management of Companies and Enterprises Raymond Chabot $9
BuildDirect.com Technologies Inc. BC Retail Trade PWC $117
1031084 Alberta Ltd. and 623735 Saskatchewan Ltd. AB Retail Trade KPMG $13
All Canadian Investment Corp. BC Finance and Insurance Boale, Wood & Company Ltd. $8
RCR International Inc. and WJ Dennis & Company QC Wholesale Trade EY $58
669699 N.B. Ltd., New Future Lumber Ltd., MP Atlantic Wood Ltd. NB Manufacturing Powell Associates Ltd. $15
Souris Mini Inc. QC Retail Trade Richter Advisory Group Inc. $17
Atlantica Diversified Transportation Systems Inc. NS Transportation and Warehousing BDO Canada Ltd. $10
Copper Sands Land Corp. SK Management of Companies and Enterprises Deloitte Restructuring Inc. $11
9333-9109 Québec Inc., 9333-9315 Québec Inc., 9333-9331 Québec Inc., 9333-9026 Québec Inc., 9333-8424 Québec Inc., 9333-9059 Québec Inc., 9333-9125 Québec Inc., 9333-9216 Québec Inc., 9335-5923 Québec Inc. QC Construction André Allard & Associés Inc. $17
Azzimov Inc., Azzimov Mobilité Inc., Azzimov Mobile Inc. QC Management of Companies and Enterprises PWC $18
Banro Corporation, Banro Group (Barbados) Ltd., Banro Congo (Barbados) Ltd., Namoya (Barbados) Ltd., Lugushwa (Barbados) Ltd., Twangiza (Barbados) Ltd., Kamituga (Barbados) Ltd. ON Mining and oil and gas extraction FTI Consulting Canada Inc. $449

Figure 1: Filings by regionFootnote*

Line chart representing the number of CCAA filings by region (the long description is located below the image)
Description of Figure 1

This line graph presents the number of filings per quarter under the Companies' Creditors Arrangement Act (CCAA), broken down by the East, Ontario and West Regions from the fourth quarter of 2015 to the fourth quarter of 2017. The note to the table explains that East Region includes Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador; Ontario Region includes Ontario; and West Region includes British Columbia, Yukon, Alberta, Northwest Territories, Saskatchewan, Manitoba and Nunavut.

The x-axis represents the quarters for the data points, starting at the fourth quarter of 2015 and continuing for each quarter until the fourth quarter of 2017.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 8. The legend on the right side of the chart shows that East Region is represented by a blue line with diamonds to mark data points; Ontario Region is represented by a purple line with asterisks for data points; and the West Region is represented by a green line with triangles for data points.

Starting in the fourth quarter of 2015, the East Region had three filings for the quarter; Ontario Region increased to two filings; and West Region matched East Region at three filings.

For the first quarter of 2016, East Region remained at three CCAA filings; Ontario Region increased to three filings; and West Region climbed to four filings.

For the second quarter of 2016, East Region dropped to one CCAA filing; Ontario Region increased to five filings; and West Region climbed to seven filings.

For the third quarter of 2016, all three regions had three CCAA filings: an increase for East Region, and a decline for the Ontario and West regions.

For the fourth quarter of 2016, East Region dropped to one CCAA filing; Ontario Region increased to six filings; and West Region remained at three filings.

For the first quarter of 2017, East Region increased to two filings and Ontario Region decreased to one filing. The West Region dropped to zero filings.

For the second quarter of 2017, the Ontario Region increased to two filings, the West increased to one filing and the East remained at two filings.

For the third quarter of 2017, the Ontario Region remained at two filings, the West remained at one filing and the East dropped to zero filings.

For the fourth quarter of 2017, the East Region increased to seven filings, the West increased to four filings, and the Ontario Region dropped to one filing.

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the fourth quarter of 2017. Alberta had 1 filing (8%), British Columbia  had 2 filings (17%), Saskatchewan had 1 filing (8%), Ontario had 1 filing (8%), Quebec had 5 filings (42%), New Brunswick had 1 filing (8%), and Nova Scotia had 1 filing (8%).

For more information, see Table 2: Total CCAA Proceedings Filed by Province

Figure 2: Filings by NAICS Economic Sector

Bar chart representing the filings by NAICS Economic Sector (the long description is located below the image)
Description of Figure 2

This bar graph breaks down filings under the Companies' Creditors Arrangement Act (CCAA) by economic sector as defined by the North American Industry Classification System (NAICS). The data is for the fourth quarter of 2017.

The x-axis represents the sectors which had filings in the fourth quarter of 2017. There are 8 sectors represented, each shown with a blue vertical bar. The 8 sectors represented in the fourth quarter of 2017 are as below:

  1. The management of companies and enterprises sector had 3 filings.
  2. The retail trade sector had 3 filings.
  3. The finance and insurance sector had 1 filing.
  4. The wholesale trade sector had 1 filing.
  5. The manufacturing sector had 1 filing.
  6. The transportation and warehousing sector had 1 filing.
  7. The construction sector had 1 filing.
  8. The mining and oil and gas extraction sector had 1 filing.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 3.

For more information, see Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada

Recently closed filesFootnote *
Company Name Sector Monitor Outcome Duration of the Proceedings
(in days)		 Liabilities
(in millions)
Rubicon Minerals Corporation Metal Ore Mining EY Concluded – compromise or arrangement completed 61 $192
The John Forsyth Shirt Company Ltd. Clothing Manufacturing BDO Canada Ltd. Terminated - no compromise or arrangement sanctioned by the court 767 $19
1031084 Alberta Ltd. and 623735 Saskatchewan Ltd. Retail Trade KPMG Taken up under BIA 29 $13
Table 1: TotalCCAAProceedings—Domestic
TypeVolume+/ Change12-Month Period Ending
Q4 2017Q3 2017Q4 2016Q3 2017 –
Q4 2017		Q4 2016 –
Q4 2017		12-31-201712-31-2016+/ Change
Total Domestic Proceedings FiledFootnote1 12 3 10 9 2 23 42 -19
Filing Affiliates28918219-154215261-46
Filed by Publicly-Traded Companies0030-3211-9
Filed by Privately-Held Companies1237942131-10
Total Liabilities - Book Value ($ millions)Footnote2 $732.732 $611.930 $1,423.305 -$120.802 -$690.573 $3,457.767 $15,717.570 -$12,259.803
% of Secured Liabilities84.75%69.77%65.48%n/an/a46.91%25.97%n/a
% of Unsecured Liabilities15.25%30.23%34.52%n/an/a53.09%74.03%n/a
Total Assets - Book Value ($ millions) $868.293 $672.687 $1,478.489 -$195.605 -$610.196 $3,818.977 $12,191.298 -$8,372.321
Table 2: Total CCAA Proceedings Filed by Province
Volume+/- Change12-Month Period Ending
Q4 2017Q3 2017Q4 2016Q3 2017 –
Q4 2017		Q4 2016 –
Q4 2017		12-31-201712-31-2016+/- Change
Newfoundland and Labrador00000000
Prince Edward Island00000000
Nova Scotia1001112-1
New Brunswick10011101
Quebec50154963
Ontario126-1-5616-10
Manitoba0000001-1
Saskatchewan10011110
Alberta11100314-11
British Columbia20220220
Northwest Territories00000000
Yukon00000000
Nunavut00000000
Canada12310922342-19
Table 3: CCAA Proceedings Filed byNAICS Economic Sector, Canada Footnote 3
SectorVolume+/ Change12-Month Period Ending
Q3 2017Q3 2017Q4 2016Q3 2017 – Q4 2017Q4 2016 – Q4 201712-31-201712-31-2016+/ Change
Agriculture, Forestry, Fishing and Hunting0000001-1
Mining and Oil and Gas Extraction10110111-10
Utilities010-10110
Construction1031-218-7
Manufacturing1011024-2
Wholesale Trade10011101
Retail Trade31013651
Transportation and Warehousing1011012-1
Information and Cultural Industries0020-204-4
Finance and Insurance10011110
Real Estate, Rental and Leasing0010-1211
Professional, Scientific and Technical Services0000001-1
Management of Companies and Enterprises30132330
Administrative and Support, Waste Management and Remediation Services00000000
Educational Services00000000
Health Care and Social Assistance00000000
Arts, Entertainment and Recreation00000000
Accommodation and Food Services010-10101
Other Services (except Public Administration)00000000
Public Administration00000000
Canada12310922042-22
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