CCAA Statistics—Second Quarter of 2022

PDF version

Companies' Creditors Arrangement Act Statistics in Canada—Second Quarter of 2022

509 KB, 6 pages

Sections

Definitions

Highlights

Recently Closed Files

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

Nine Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the second quarter of 2022. Please refer to the CCAA Records List for additional details regarding each filing.
Date of Proceedings Company Name Province Sector Monitor Liabilities (in millions)
2022-06-24 Sproutly, Inc. And Toronto Herbal Remedies Inc. Ontario Agriculture, Forestry, Fishing and Hunting BDO Canada Limited $6
2022-06-17 Zenabis Global Inc. et al Quebec Manufacturing Ernst & Young Inc. $128
2022-06-03 Canadian Dehua International Mines Group Inc. British Columbia Mining and, Oil and Gas Extraction FTI Consulting Canada Inc. $107
2022-06-02 MJardin Group, Inc. Ontario Manufacturing KSV Restructuring $141
2022-05-17 Roman Catholic Episcopal Corporation of St. John's Newfoundland and Labrador Other Services (Except Public Administration) Ernst & Young Inc. $15
2022-05-16 Freshlocal Solutions Inc. British Columbia Retail Trade Ernst & Young Inc. $57
2022-04-20 Hazelton Development Corporation Ontario Construction Grant Thornton Limited $74
2022-04-22 Choom Holdings Inc. British Columbia Management of Companies and Enterprises Ernst & Young Inc. $22
2022-04-01 Alderbridge Way Limited Partnership, Alderbridge Way GP Ltd. and 0989705 B.C. Ltd. British Columbia Real Estate and Rental and Leasing The Bowra Group Inc. $343

Filings by regionFootnote *

Filings by region

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 2020 to the second quarter of 2022. 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 second quarter of 2020 and continuing for each quarter until the second quarter of 2022.

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 second quarter of 2020, the West Region was at 12 filings, the Ontario Region at 10 filings, and the East Region at 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 filings.

For the fourth quarter of 2021, the West Region remained at 2 filings, the Ontario Region increased to 3 filings, and the East Region increased to 1 filing.

For the first quarter of 2022, the West Region dropped to 0 filings, the Ontario Region dropped to 2 filings, and the East Region increased to 2 filings.

For the second quarter of 2022, the West Region increased to 4 filings, the Ontario Region increased to 3 filings, and the East Region remained at 2 filings

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the second quarter of 2022, British Columbia had 4 filings (44%), Ontario had 3 filings (33%) Quebec had 1 filing (11%), and Newfoundland and Labrador had 1 filing (11%).

For more information, see Table 10: Total CCAA Proceedings by Province in Insolvency statistics in Canada—Second Quarter 2022.

Filings by NAICS economic sectorFootnote **

Filings by NAICS economic sector

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 2022.

The x-axis represents the sectors, which had filings in the second quarter of 2022. There are 4 sectors represented, each shown with a blue vertical bar. The 4 sectors represented in the second quarter of 2022 are as below:

  1. The agriculture, forestry, fishing and hunting sector had 1 filing.
  2. The mining, quarrying, and oil and gas extraction sector had 1 filing.
  3. The construction sector had 1 filing.
  4. The manufacturing sector had 2 filings.
  5. The retail trade sector had 1 filing.
  6. The real estate and rental and leasing sector had 1 filing.
  7. The management of companies and enterprises sector had 1 filing.
  8. The other services except public administration 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.

The manufacturing sector had the highest number of filings in the second quarter of 2022, with 2 filings.

For more information, see Table 11: CCAA Proceedings by NAICS Sectors in Insolvency statistics in Canada—Second Quarter 2022.

Recently closed filesFootnote ***
Company Name Sector Monitor Outcome Duration of the Proceeding (in days) Liabilities (in millions)
Silver Streams Houses Inc. Construction Grant Thornton Limited Terminated – no compromise or arrangement sanctioned by the court 1,140 $5
SunEdison Canadian Construction LP Utilities Ernst & Young Inc. Terminated – no compromise or arrangement sanctioned by the court 1,449 $0
Canada North et al Accommodation and food services Ernst & Young Inc. Concluded – compromise or arrangement completed 1,498 $76
Clover Leaf Holdings Company Agriculture, forestry, fishing and hunting Alvarez & Marsal Canada Inc. Terminated – no compromise or arrangement sanctioned by the court 434 $207
Wayland Group Corp., Maricann Inc. and Nanoleaf Technologies Inc. Manufacturing Pricewaterhousecoopers Inc. Terminated – no compromise or arrangement sanctioned by the court 723 $96
FIGR Brands Inc. Agriculture, forestry, fishing and hunting Fti Consulting Canada Inc. Terminated – no compromise or arrangement sanctioned by the court 455 $204
Calgary Oil & Gas Syndicate Group Ltd., Calgary Oil and Gas Intercontinental Group Ltd., T5 SC Oil and Gas Limited Partnership, Calgary Oil and Syndicate Partners Ltd. and Petroworld Energy Ltd. Mining, quarrying, and oil and gas extraction Bdo Canada Limited / Bdo Canada Limitée Concluded – compromise or arrangement completed 225 $42
McEwan Enterprises Inc. Retail trade Alvarez & Marsal Canada Inc. Terminated – no compromise or arrangement sanctioned by the court 84 $25
Harte Gold Corp Mining, quarrying, and oil and gas extraction Fti Consulting Canada Inc. Terminated – no compromise or arrangement sanctioned by the court 70 $166
Kaisen Energy Corp. Mining, quarrying, and oil and gas extraction Ernst & Young Inc. Terminated – no compromise or arrangement sanctioned by the court 55 $20
 Report a problem
Date modified: