CCAA Statistics—Third Quarter of 2021

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

Three Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the third quarter of 2021. Please refer to the CCAA Records List for additional details regarding each filing.

Company Name Province Sector Monitor Liabilities
(in millions)
McEwan Enterprises Inc. Ontario Retail trade Alvarez & Marsal Canada Inc. $25
Plus Products Inc. British Columbia Management of companies and enterprises PricewaterhouseCoopers Inc. $16
Abbey Resources Corp. Saskatchewan Transportation and warehousing MNP Ltd. $44

Filings by regionFootnote *

Line graph presenting the number of filings per quarter under the CCAA
Text version

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 third quarter of 2019 to the third quarter of 2021. The note to the table explains that East Region includes New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec; Ontario Region includes Ontario; and West Region includes Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan, and Yukon.

The x-axis represents the quarters for the data points, starting at the third quarter of 2019 and continuing for each quarter until the third quarter of 2021.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 2 until it reaches 14. 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.

For the third quarter of 2019, the West Region increased to 3 filings, the Ontario Region increased to 2 filings, and the East Region dropped to 1 filing.

For the fourth quarter of 2019, the West Region increased to 4 filings, the Ontario Region increased to 6 filings, and the East Region increased to 5 filings.

For the first quarter of 2020, the West Region remained at 4 filings, the Ontario Region dropped to 5 filings, and the East Region dropped to 2 filings.

For the second quarter of 2020, the West Region increased to 12 filings, the Ontario Region increased to 10 filings, and the East Region increased to 5 filings. 

For the third quarter of 2020, the East Region increased to 7 filings, the West Region dropped to 4 filings, and the Ontario Region dropped to 4 filings.

For the fourth quarter of 2020, the East Region and the West Region both dropped to 1 filing, and the Ontario Region remained to 4 filings.

For the first quarter of 2021, the East Region and the West Region both increased to 3 filings, and the Ontario Region increased to 6 filings.

For the second quarter of 2021, the Ontario Region dropped to 2 filings, the West Region dropped to 2 filings, and the East Region dropped to 1 filing.

For the third quarter of 2021, the Ontario Region dropped to 1 filing, the West Region remained at 2 filings, and the East Region dropped to 0 filing.

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the third quarter of 2021, Ontario had 1 filing (33%), British Columbia had 1 filing (33%), and Saskatchewan had 1 filing (33%).

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

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

Filings by NAICS economic sector

This bar graph breaks down filings under the Companies' Creditors Arrangement Act by economic sector
Text version

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 third quarter of 2021.

The x-axis represents the sectors, which had filings in the third quarter of 2021. There are 3 sectors represented, each shown with a blue vertical bar. The 3 sectors represented in the third quarter of 2021 are as below:

  1. The retail trade sector had 1 filing.
  2. The management of companies and enterprises had 1 filing.
  3. The transportation and warehousing had 1 filing.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 7.

[Text in margin] This quarter, the filings are equally distributed among three sectors.

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 Proceeding
(in days)
Liabilities
(in millions)
Cambridge Group Inc. Arts, entertainment and recreation Grant Thornton Limited Concluded - compromise or arrangement completed 199 $ 7
UrtheCast Corp. Manufacturing Ernst & Young Inc. Taken up under BIA 180 $ 149
DAVIDsTEA Inc. DAVIDsTEA (USA) Inc. Wholesale trade PricewaterhouseCoopers Inc. Concluded - compromise or arrangement completed 428 $ 116
Table 1: Total CCAA ProceedingsDomestic
no data Volume +/- Change 12-Month Period Ending
Q3 2021 Q2 2021 Q3 2020 Q2 2021 – Q3 2021 Q3 2020 – Q3 2021 09-30-2021 09-30-2020 +/- Change
Total Domestic Proceedings FiledFootnote 1 3 5 16 −2 −13 26 69 −43
Filing Affiliates
0 2 69 −2 −69 129 313 −184
Filed by Publicly-Traded Companies
1 0 2 1 −1 4 17 −13
Filed by Privately-Held Companies
2 5 14 −3 −12 22 52 −30
Total Liabilities - Book ValueFootnote 2 $85.298 $831.806 $1,696.866 −$746.508 −$1,611.568 $4,089.161 $12,176.172 −$8,087.011
% of Secured Liabilities
19.02% 56.32% 37.60% n/a n/a 29.13% 57.22% n/a
% of Unsecured Liabilities
80.98% 43.68% 62.40% n/a n/a 70.87% 42.78% n/a
Total Assets - Book Value $69.673 $854.693 $1,433.963 −$785.019 −$1,364.290 $3,639.790 $17,869.798 −$14,230.008
Table 2: Total CCAA Proceedings Filed by Province
no data Volume +/- Change 12-Month Period Ending
Q3 2021 Q2 2021 Q3 2020 Q2 2021 – Q3 2021 Q3 2020 – Q3 2021 09-30-2021 09-30-2020 +/- 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 0 0 0
New Brunswick 0 0 0 0 0 0 0 0
Quebec 0 1 7 −1 −7 5 19 −14
Ontario 1 2 5 −1 −4 13 23 −10
Manitoba 0 0 0 0 0 0 0 0
Saskatchewan 1 0 0 1 1 1 1 0
Alberta 2 1 −2 −1 3 14 −11
British Columbia 1 3 1 −2 4 9 −5
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 3 5 16 −2 −13 26 66 −40
Table 3: CCAA Proceedings Filed by NAICS Economic Sector, CanadaFootnote 3
no data Volume +/- Change 12-Month Period Ending
Q3 2021 Q2 2021 Q3 2020 Q2 2021 – Q3 2021 Q3 2020 – Q3 2021 09-30-2021 09-30-2020 +/- Change
Agriculture, Forestry, Fishing and Hunting  0 1 0 −1 3 8 −5
Mining, Quarrying and Oil and Gas Extraction  0 3 1 −3 −1 4 13 −9
Utilities  0 0 1  0 1
Construction 0 0 0 0 0 4 −4
Manufacturing 0 2 2 −2 −2 6 12 −6
Wholesale Trade 0 0 0 0 0 1 1 0
Retail Trade 1 0 6 1 −5 3 11 −8
Transportation and Warehousing 1 0 0 1 1 1 1 0
Information and Cultural Industries 0 0 0 0 0 0 1 −1
Finance and Insurance 0 0 1 0 −1 2 1 1
Real Estate, Rental and Leasing 0 0 1 0 −1 0 5 −5
Professional, Scientific and Technical Services 0 0 1 0 −1 0 1 −1
Management of Companies and Enterprises 1 0 2 1 −1 1 4 −3
Administrative and Support, Waste Management and Remediation Services 0 0 1 0 −1 0 4 −4
Educational Services 0 0 0 0 0 1 1 0
Health Care and Social Assistance 0 0 0 0 0 0 0 0
Arts, Entertainment and Recreation 0 0 0 0 0 1 1 0
Accommodation and Food Services 0 0 0 0 0 2 0 2
Other Services (except Public Administration) 0 0 0 0 0 0 1 −1
Public Administration 0 0 0 0 0 0 0 0
Canada 3 5 16 −2 −13 26 69 −43