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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
Six Companies' Creditors Arrangement Act(CCAA) proceedings were filed with the OSB in the fourth quarter of 2021. Please refer to the CCAA Records List for additional details regarding each filing.
Company Name | Province | Sector | Monitor | Liabilities (in millions) |
---|---|---|---|---|
Medifocus Inc. | Ontario | Professional, scientific and technical services | MSI Spergel Inc. | $16 |
Boreal Capital Partners Ltd., JRB-331 Sheddon Holdings Ltd., 2123068 Ontario Limited, JRB-109 Reynolds Holdings Ltd., JRB-339 Church Holdings Ltd., JRB-147 Church Holdings Ltd. | Ontario | Construction | Ernst & Young Inc. | $75 |
Otso Gold Corp., Otso Gold OY, Otso Gold AB and 2273265 Alberta Ltd. | British Columbia | Mining, quarrying, and oil and gas extraction | Deloitte Restructuring Inc. | $70 |
Harte Gold Corp. | Ontario | Mining, quarrying, and oil and gas extraction | FTI Consulting Inc. | $166 |
Kaisen Energy Corp. | Alberta | Mining, quarrying, and oil and gas extraction | Ernst & Young Inc. | $21 |
Blackrock Metals Inc., Blackrock Mining Inc., BRM Metals GP Inc. and Blackrock Metals LP | Quebec | Mining, quarrying, and oil and gas extraction | Deloitte Restructuring Inc. | $167 |
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) |
---|---|---|---|---|---|
Pharmhouse Inc. | Agriculture, forestry, fishing and hunting | Ernst & Young Inc. | Taken up under BIA | 281 | $171 |
Le Château Inc. and Château Stores Inc. | Retail trade | PricewaterhouseCoopers Inc. | Taken up under BIA | 312 | $198 |
Northern Silica Corporation, Heemskirk Mining PTY. Ltd., Heemskirk Canada Holdings Limited, Heemskirk Canada Limited, Custom Bulk Services Inc., and HCA Mountain Minerals (Moberly) Limited | Mining, quarrying, and oil and gas extraction | Alvarez & Marsal Canada Inc. | Terminated - no compromise or arrangement sanctioned by the court | 448 | $90 |
Guardian Financial Corp. and other entities listed on Schedule A | Real estate and rental and leasing | KSV Kofman Inc. | Taken up under BIA | 366 | $84 |
Yatsen Group of Companies Inc., SAR Real Estate Inc. et al. | Accommodation and food services | Alvarez & Marsal Canada Inc. | Concluded - compromise or arrangement completed | 246 | $79 |
Boutique Tristan & Iseut Inc. | Retail trade | MNP Ltd. | Concluded - compromise or arrangement completed | 314 | $39 |
- | Volume | +/- Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q4 2021 | Q3 2021 | Q4 2020 | Q3 2021 - Q4 2021 | Q4 2020 - Q4 2021 | 12-31-2021 | 12-31-2020 | +/- Change | |
Total Domestic Proceedings FiledFootnote 1 | 6 | 3 | 6 | 3 | 0 | 26 | 60 | -34 |
Filing Affiliates | 11 | 0 | 23 | 11 | -12 | 117 | 230 | -113 |
Filed by Publicly-Traded Companies | 3 | 1 | 2 | 2 | 1 | 5 | 14 | -9 |
Filed by Privately-Held Companies | 3 | 2 | 4 | 1 | -1 | 21 | 46 | -25 |
Total Liabilities - Book ValueFootnote 2 | $516.178 | $85.298 | $394.204 | $430.880 | $121.974 | $4,211.135 | $8,758.562 | -$4,547.427 |
% of Secured Liabilities | 54.13% | 19.02% | 38.49% | n/a | n/a | 31.32% | 48.37% | n/a |
% of Unsecured Liabilities | 45.87% | 80.98% | 61.51% | n/a | n/a | 68.68% | 51.63% | n/a |
Total Assets - Book Value | $494.339 | $69.673 | $326.549 | $424.666 | $167.791 | $3,807.580 | $9,420.403 | -$5,612.822 |
- | Volume | +/- Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q4 2021 | Q3 2021 | Q4 2020 | Q3 2021 - Q4 2021 | Q4 2020 - Q4 2021 | 12-31-2021 | 12-31-2020 | +/- 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 | 1 | 0 | 1 | 1 | 0 | 5 | 15 | -10 |
Ontario | 3 | 1 | 4 | 2 | -1 | 12 | 21 | -9 |
Manitoba | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Saskatchewan | 0 | 1 | 0 | -1 | 0 | 1 | 1 | 0 |
Alberta | 1 | 0 | 0 | 1 | 1 | 4 | 10 | -6 |
British Columbia | 1 | 1 | 1 | 0 | 0 | 4 | 10 | -6 |
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 | 6 | 3 | 6 | 3 | 0 | 26 | 57 | -31 |
- | Volume | +/- Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q4 2021 | Q3 2021 | Q4 2020 | Q3 2021 - Q4 2021 | Q4 2020 - Q4 2021 | 12-31-2021 | 12-31-2020 | +/- Change | |
Agriculture, Forestry, Fishing and Hunting | 0 | 0 | 2 | 0 | -2 | 1 | 7 | -6 |
Mining, Quarrying and Oil and Gas Extraction | 4 | 0 | 0 | 4 | 4 | 8 | 9 | -1 |
Utilities | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Construction | 1 | 0 | 0 | 1 | 1 | 1 | 3 | -2 |
Manufacturing | 0 | 0 | 1 | 0 | -1 | 5 | 10 | -5 |
Wholesale Trade | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Retail Trade | 0 | 1 | 1 | -1 | -1 | 2 | 12 | -10 |
Transportation and Warehousing | 0 | 1 | 0 | -1 | 0 | 1 | 0 | 1 |
Information and Cultural Industries | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Finance and Insurance | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 1 |
Real Estate, Rental and Leasing | 0 | 0 | 0 | 0 | 0 | 0 | 4 | -4 |
Professional, Scientific and Technical Services | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 |
Management of Companies and Enterprises | 0 | 1 | 0 | -1 | 0 | 1 | 4 | -3 |
Administrative and Support, Waste Management and Remediation Services | 0 | 0 | 0 | 0 | 0 | 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 | 1 | 0 | -1 | 0 | 2 | -2 |
Accommodation and Food Services | 0 | 0 | 1 | 0 | -1 | 1 | 1 | 0 |
Other Services (except Public Administration) | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 |
Public Administration | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Canada | 6 | 3 | 6 | 3 | 0 | 26 | 60 | -34 |