CCAA Statistics—Second Quarter of 2018

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Companies' Creditors Arrangement Act Statistics in Canada—Second Quarter of 2018

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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

Four Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the second quarter of 2018. 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)
BioAmber Sarnia Inc., BioAmber Canada Inc., BioAmber Inc QC Manufacturing PricewaterhouseCoopers $47
Purcell Basin Minerals Inc., Bul River Mineral Corporation, Gallowai Metal Mining Corporation, Grand Mineral Corporation, JAO Mine Developers Ltd., Stanfield Mining Group of Canada Ltd. BC Mining, quarrying, and oil and gas extraction PricewaterhouseCoopers $5
TeloIP Inc. ON Administrative and Support, Waste Management and Remediation Services MNP $33
Wicker Emporium Limited NS Retail Trade MNP $5

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 second quarter of 2016 to the second quarter of 2018. 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 second quarter of 2016 and continuing for each quarter until the second quarter of 2018.

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 squares for data points; and the West Region is represented by a green line with triangles for data points.

Starting in the second quarter of 2016, East Region had one CCAA filings; Ontario Region had five filings; and West Region had 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.

For the first quarter of 2018, the Ontario Region increased to 2 filings, East Region dropped to 1 filing, and the West Region dropped to zero filings.

For the second quarter of 2018, the East Region increased to 2 filings, the West Region increased to one filing, and the Ontario Region dropped to 1 filing.

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the second quarter of 2018, Nova Scotia had 1 filing (25%), Quebec had 1 filing (25%), Ontario had 1 filing (25%), and British Columbia had 1 filing (25%).

 East Region includes Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador
Ontario Region includes Ontario
West Region includes British Columbia, Yukon, Alberta, Northwest Territories, Saskatchewan, Manitoba and Nunavut

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 second quarter of 2018.

The x-axis represents the sectors which had filings in the second quarter of 2018. There are 4 sectors represented, each shown with a blue vertical bar. The 4 sectors represented in the second quarter of 2018 are as below:

  1. The manufacturing sector had 1 filing.
  2. The mining, quarrying, and oil and gas extraction sector had 1 filing.
  3. The administrative and support, waste management and remediation services sector had 1 filing.
  4. The retail trade 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 1.

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)
Armtec Infrastructure Inc. Manufacturing EY Taken up under the BIA 1099 $416
Data & Audio Visual Enterprises Holding Inc. (Mobilicity) Information and cultural industries EY Concluded – compromise or arrangement completed 1648 $464
Great Western Minerals Group Ltd. Mining, quarrying, and oil and gas extraction PricewaterhouseCoopers Taken up under the BIA 1152 $88
Kyoto Fuels Corporation Manufacturing Deloitte Taken up under the BIA 1448 $23
Martin Ross Group Inc. Manufacturing Collins Barrow Concluded – compromise or arrangement completed 1369 $36
Sunrise/Saskatoon Apartments Partnerships Real estate PricewaterhouseCoopers Terminated - no compromise or arrangement sanctioned by the court 493 $241
Footnote *(2)

Some files may have been closed before the beginning of the quarter. For exact closing dates, please refer to the CCAA Records List.

Return to footnote * referrer

Table 1: TotalCCAAProceedings—Domestic
TypeVolume+/ Change12-Month Period Ending
Q2 2018Q1 2018Q2 2017Q1 2018 –
Q2 2018		Q2 2017 –
Q2 2018		06-30-201806-30-2017+/ Change
Total Domestic Proceedings FiledFootnote14450-12327-4
Filing Affiliates511174-6-16953384-331
Filed by Publicly-Traded Companies0020-208-8
Filed by Privately-Held Companies4430123194
Total Liabilities - Book Value Footnote2,Footnote 3$0.0916B$3.689B$1.969B- $3.598B-$1.868B$5.126B$6.707B-$1.581B
% of Secured Liabilities63.16%19.70%27.72%n/an/a35.75%46.92%n/a
% of Unsecured Liabilities36.84%80.30%72.28%n/an/a64.25%53.08%n/a
Total Assets - Book Value$0.0994B$3.463B$2.153B- $3.364B-$2.054B$5.104B$6.212B-$1.108B
Table 2: Total CCAA Proceedings Filed by Province
Volume+/- Change12-Month Period Ending
Q2 2018Q1 2018Q2 2017Q1 2018 –
Q2 2018		Q2 2017 –
Q2 2018		06-30-201806-30-2017+/- Change
Newfoundland and Labrador00000000
Prince Edward Island00000000
Nova Scotia10011220
New Brunswick00000101
Quebec1120-1761
Ontario132-2-1712-5
Manitoba00000000
Saskatchewan00000101
Alberta0010-125-3
British Columbia10011321
Northwest Territories00000000
Yukon00000000
Nunavut00000000
Canada4450-12327-4
Table 3:CCAAProceedings Filed byNAICSEconomic Sector, CanadaFootnote 4
SectorVolume+/ Change12-Month Period Ending
Q2 2018Q1 2018Q2 2017Q1 2018 –
Q2 2018		Q2 2017 –
Q2 2018		06-30-201806-30-2017+/ Change
Agriculture, Forestry, Fishing and Hunting0000001-1
Mining and Oil and Gas Extraction1100134-1
Utilities00000101
Construction010-1024-2
Manufacturing1001124-2
Wholesale Trade00000101
Retail Trade1021-1532
Transportation and Warehousing010-10211
Information and Cultural Industries0000002-2
Finance and Insurance00000110
Real Estate, Rental and Leasing0010-103-3
Professional, Scientific and Technical Services00000000
Management of Companies and Enterprises00000312
Administrative and Support, Waste Management and Remediation Services10011101
Educational Services00000000
Health Care and Social Assistance00000000
Arts, Entertainment and Recreation00000000
Accommodation and Food Services010-10202
Other Services (except Public Administration)00000000
Public Administration00000000
Canada443012324-1
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