NEWS FLASH! December 15, 2009:
Canadian Insolvencies Increase by 7.3% for the Month of October, 2009 compared with the Same Month in 2008.

Consumer Bankruptcies were down 1.7% compared with the same month the previous year.

Business Bankruptcies were down by 13.5% compared with the same month the previous year.

Proposals were up by 41.9% compared with the same month the previous year.

For the 12 months ended October 31, 2009 Insolvencies are up by 31.9% compared with the previous year; (2009:156,255 - 2008:118,498).

NOTE:
Comparison of insolvencies for October, 2009 with the previous month probably will not be meaningful. There was a rush to file bankruptcy before the new harsher laws went into force on September 18, 2009. This means that the September, 2009 statistics were probably higher than normal and the October, 2009 statistics were probably lower than normal.

For more information and more detailed analysis please refer to this site.