Bankruptcy Statistics 2012

Bankruptcy Statistics 2012

Highlights
Insolvency Statistics in Canada — September 2012, from the Office of the Superintendent of Bankruptcy

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 6.6 percent in September 2012 from the previous month. Bankruptcies decreased by 5.5 percent, whereas proposals decreased by 8.3 percent.

The total number of insolvencies in September 2012 was 12.1 percent lower than the total number of insolvencies in September 2011. Consumer insolvencies have decreased by 12.1 percent, while business insolvencies have decreased by 10.9 percent.

For the 12-month period ending September 30, 2012, the total number of insolvencies decreased by 5.3 percent compared with the 12-month period ending September 30, 2011.

Consumer insolvencies for the 12-month period ending September 30, 2012, decreased by 5.2 percent compared with the 12-month period ending September 30, 2011. Consumer bankruptcies decreased by 10.7 percent, while consumer proposals increased by 4.7 percent. The proportion of proposals in consumer insolvencies increased to 39.0 percent during the 12-month period ending September 30, 2012, up from 35.3 percent during the 12-month period ending September 30, 2011. For the 12-month period ending September 30, 2012, 96.4 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending September 30, 2012, fell by 6.6 percent compared with the 12-month period ending September 30, 2011. The three sectors that registered the biggest decrease in the number of insolvencies were transportation and warehousing; retail trade; and manufacturing, whereas the accommodation and food services sector had the biggest rise in insolvencies.

Five Companies’ Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in September 2012. Please refer to the CCAA Records for additional details. Note: The Insolvency Statistics in Canada—September 2012 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Read the report Insolvency Statistics in Canada—September 2012.

See Also: Personal Bankruptcy

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