The latest bankruptcy statistics for December, 2006 were released on the internet by Industry Canada on February 2, 2007.
The number of personal insolvencies dipped just below 100,000
for the first time in three years.
Once again, as in 2005, there is regional disparity in the rates of insolvency.
Atlantic Canada saw the insolvency rate fall 8.3% from 10,963 in 2005 to 10,057 in 2006.
Ontario and Quebec, saw a small rise in the insolvency rate of 1.2%; rising from 73,547 in 2005 to 74,395 in 2006.
The West, with its booming economy, saw insolvencies decline by a whopping 18.8%; from 27,203 in 2005 to 22,090 in 2006.
Current Month:
-
Consumer bankruptcies fell 8.7% (5,393/5,905);
Business bankruptcies fell 10.0% (505/561);
Proposals rose 4.3% (1,5391,475);
Overall, Insolvencies fell 6.3% (7,437/7,941).
Year to date:
-
Consumer bankruptcies were down 6.4%
Business bankruptcy were down 10.1%
Proposals were up 5.1%
Total insolvencies were down 4.6%.
For more information and more detailed analysis please refer to this site.
