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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
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 *
For more information, see Table 2: Total CCAA Proceedings Filed by Province.
Filings by NAICS economic sector
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 |
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 |
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 | 0 | 2 | 1 | −2 | −1 | 3 | 14 | −11 |
British Columbia | 1 | 0 | 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 |
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 | 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 | 0 | 0 | 0 | 1 | 0 | 1 |
Construction | 0 | 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 |