NEWS FLASH! January 12th, 2012:
Insolvencies decline by 12.2% in October, 2011 compared with the same month the previous year.

Consumer Bankruptcies were down by 20.2% in October, 2011 compared with the same month the previous year (6,259/7,844).

Business Bankruptcies were up by 3.1% in October, 2011 compared with the same month the previous year. (301/292).

Proposals were up by 3.6% in October, 2011 compared with the same month the previous year. (3,809/3,677).

For the 12 months ended October 31, 2011 insolvencies were down by 8.2% compared with the 12 months ended October 31, 2010. (129,733/141,311).

Comments from the Office of the Superintendent of Bankruptcy:

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 3.8 percent in October 2011 from the previous month. Bankruptcies decreased by 3.7 percent, whereas proposals decreased by 4.0 percent.

The total number of insolvencies in October 2011 was 12.8 percent lower than the total number of insolvencies in October 2010. Consumer insolvencies have decreased by 12.9 percent, while business insolvencies have decreased by 9.4 percent.

For the 12-month period ending October 31, 2011, the total number of insolvencies decreased by 8.2 percent compared with the 12-month period ending October 31, 2010.

Consumer insolvencies for the 12-month period ending October 31, 2011, decreased by 8.1 percent compared with the 12-month period ending October 31, 2010. Consumer bankruptcies decreased by 15.0 percent, while consumer proposals increased by 7.4 percent. The proportion of proposals in consumer insolvencies increased to 35.8 percent during the 12-month period ending October 31, 2011, up from 30.6 percent during the 12-month period ending October 31, 2010. For the 12-month period ending October 31, 2011, 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending October 31, 2011, fell by 10.6 percent compared with the 12-month period ending October 31, 2010. The two sectors that registered the biggest decrease in the number of insolvencies were retail trade; and transportation and warehousing.

Four Companies’ Creditors Arrangement Act (CCAA) proceedings initiated in October 2011 were filed with the OSB. Please refer to the CCAA records for additional details. Note: The Insolvency Statistics in Canada – October 2011 report, which pertains to bankruptcies and proposals filed under the BIA, does not include CCAA filings.

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

NEWS FLASH! November 10, 2011:
Insolvencies decline by 3.7% in August, 2011 compared with the same month the previous year.

Consumer Bankruptcies were down by 9% in August, 2011 compared with the same month the previous year (6,472/7,115).

Business Bankruptcies were up by 2.8% in August, 2011 compared with the same month the previous year. (297/289).

Proposals were up by 6.4% in August, 2011 compared with the same month the previous year. (3,775/3,547).

For the 12 months ended August 31, 2011 insolvencies were down by 9.9% compared with the 12 months ended August 31, 2010. (132,253/146,753).

Comments from the Office of the Superintendent of Bankruptcy:

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 15.8 percent in August 2011 from the previous month. Bankruptcies increased by 15.7 percent, whereas proposals increased by 15.8 percent.

The total number of insolvencies in August 2011 was 3.7 percent lower than the total number of insolvencies in August 2010. Consumer insolvencies have decreased by 3.8 percent, while business insolvencies have decreased by 1.1 percent.

For the 12-month period ending August 31, 2011, the total number of insolvencies decreased by 9.9 percent compared with the 12-month period ending August 31, 2010.

Consumer insolvencies for the 12-month period ending August 31, 2011, decreased by 9.7 percent compared with the 12-month period ending August 31, 2010. Consumer bankruptcies decreased by 16.7 percent, while consumer proposals increased by 7.4 percent. The proportion of proposals in consumer insolvencies increased to 34.8 percent during the 12-month period ending August 31, 2011, up from 29.3 percent during the 12-month period ending August 31, 2010. For the 12-month period ending August 31, 2011, 96.4 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending August 31, 2011, fell by 15.3 percent compared with the 12-month period ending August 31, 2010. A reduction in the number of insolvencies among the transportation and warehousing; construction; professional, scientific and technical services; and retail trade sectors largely contributed to this decrease.

As of September 20, 2011, two Companies’ Creditors Arrangement Act (CCAA) proceedings initiated in August 2011 were filed with the OSB. Please refer to the CCAA records for additional details. Note: The Insolvency Statistics in Canada – August 2011 report, which pertains to bankruptcies and proposals filed under the BIA, does not include CCAA filings.

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

NEWS FLASH! October 3, 2011:
Insolvencies decline by 10.5% in July, 2011 compared with the same month the previous year.

Consumer Bankruptcies were down by 21.2% in July, 2011 compared with the same month the previous year (5,629/7,141).

Business Bankruptcies were down by 25.5% in July, 2011 compared with the same month the previous year. (219/294).

Proposals were down by 1.5% in July, 2011 compared with the same month the previous year. (3,260/3,308).

For the 12 months ended July 31, 2011 insolvencies were down by 10.5% compared with the 12 months ended July 31, 2010. (132,660/148,301).

Comments from the Office of the Superintendent of Bankruptcy:

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 17.4 percent in July 2011 from the previous month. Bankruptcies decreased by 18.0 percent, whereas proposals decreased by 16.1 percent. Over the past 10 years, there were two years when the total number of insolvencies filed in the month of July was higher than the total number filed in June.

The total number of insolvencies in July 2011 was 15.2 percent lower than the total number of insolvencies in July 2010. Consumer insolvencies have decreased by 15.0 percent, while business insolvencies have decreased by 20.8 percent.

For the 12-month period ending July 31, 2011, the total number of insolvencies decreased by 10.5 percent compared with the 12-month period ending July 31, 2010. It is worth noting that the total volume of insolvency still remains 14.1 percent higher than the 12-month period (October 2007 – September 2008) preceding the recession.

Consumer insolvencies for the 12-month period ending July 31, 2011, decreased by 10.3 percent compared with the 12-month period ending July 31, 2010. Consumer bankruptcies decreased by 18.1 percent, while consumer proposals increased by 9.4 percent. For the 12-month period ending July 31, 2011, 96.4 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending July 31, 2011, fell by 16.6 percent compared with the 12-month period ending July 31, 2010. A reduction in the number of insolvencies among the transportation and warehousing; construction; retail trade; and professional, scientific and technical services sectors largely contributed to this decrease.

The volume of business insolvencies in all Canadian industrial sectors, as defined by the North American Industry Classification System (NAICS), fell over the past five years despite the period of recession and economic downturn. In 2010, the three sectors that experienced the largest decline in filings were manufacturing (-195), retail trade (-194), and transportation and warehousing (-194). In 2010, 36 percent of all business insolvencies were filed in Ontario, second only to Quebec (40 percent).

In each year between 2006 and 2010, the construction sector had the largest number of insolvency filings among all NAICS sectors. During the same period, the construction sector also experienced the largest decline in insolvency filings from 1363 in 2006 to 863 in 2010. In 2010, Ontario alone accounted for about three quarters (75.7 percent) of the decline in insolvency filings in the construction sector.

The proportion of consumer insolvencies that were proposals was 34.5 percent for the 12-month period ending July 31, 2011, compared to 21.6 percent for the 12-month period ending September 30, 2009. This increase may be an indication that consumers are taking advantage of changes to the Bankruptcy and Insolvency Act (BIA). The changes, implemented on September 18, 2009, allow consumers more flexibility in filing proposals.

Four Companies’ Creditors Arrangement Act (CCAA) proceedings initiated in July 2011 were filed with the OSB. Please refer to the CCAA records for additional details. Note: The Insolvency Statistics in Canada – July 2011 Report, which pertains to bankruptcies and proposals filed under the BIA, does not include CCAA filings.

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

NEWS FLASH! September 7, 2011:
Insolvencies decline by 11.2% in June, 2011 compared with the same month the previous year.

Comments from the Office of the Superintendent of Bankruptcy:

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 0.1 percent in June 2011 from the previous month. Bankruptcies increased by 0.3 percent, whereas proposals decreased by 0.2 percent. Over the past 10 years, there were four years when the total number of insolvencies filed in the month of June was higher than the total number filed in May.

The total number of insolvencies in June 2011 was 10.7 percent lower than the total number of insolvencies in June 2010. Consumer insolvencies have decreased by 11.0 percent, while business insolvencies have decreased by 3.6 percent.

For the 12-month period ending June 30, 2011, the total number of insolvencies decreased by 11.2 percent compared with the 12-month period ending June 30, 2010. It is worth noting that the total volume of insolvency still remains 15.5 percent higher than the 12-month period (October 2007 – September 2008) preceding the recession.

Consumer insolvencies for the 12-month period ending June 30, 2011, decreased by 10.9 percent compared with the 12-month period ending June 30, 2010. Consumer bankruptcies decreased by 19.1 percent, while consumer proposals increased by 10.7 percent. For the 12-month period ending June 30, 2011, 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending June 30, 2011, fell by 17.5 percent compared with the 12-month period ending June 30, 2010. A reduction in the number of insolvencies among the transportation and warehousing; manufacturing; construction; retail trade; and professional, scientific and technical services sectors largely contributed to this decrease.

The proportion of consumer insolvencies that were proposals was 34.1 percent for the 12-month period ending June 30, 2011, compared to 21.6 percent for the 12-month period ending September 30, 2009. This increase may be an indication that consumers are taking advantage of changes to the Bankruptcy and Insolvency Act (BIA). The changes, implemented on September 18, 2009, allow consumers more flexibility in filing proposals.

Four Companies’ Creditors Arrangement Act (CCAA) proceedings initiated in June 2011 were filed with the OSB. Please refer to CCAA Statistics in Canada — Second Quarter 2011. Note: The Insolvency Statistics in Canada – June 2011 Report, which pertains to bankruptcies and proposals filed under the BIA, does not include CCAA filings.

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

please refer to this site.

Insolvencies decline by 4.5% in May, 2011 compared with the same month the previous year.

Consumer Bankruptcies were down by 14.2% in May, 2011 compared with the same month the previous year (6,797/7,918).

Business Bankruptcies were down by 0.9% in May, 2011 compared with the same month the previous year. (315/318).

Proposals were up by 18.4% in May, 2011 compared with the same month the previous year. (3,894/3,290).

For the 12 months ended May 31, 2011 insolvencies were down by 11.5% compared with the 12 months ended May 31, 2010. (135,619/153,248).

The comments by the Office of the Superintendent of Bankruptcy are as follows:

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 2.8 percent in May 2011 from the previous month. Bankruptcies decreased by 4.0 percent, whereas proposals decreased by 0.6 percent. Over the past 10 years, there were only two years when the total number of insolvencies filed in the month of May was higher than the total number filed in April.

For the month of May 2011, the total number of insolvencies was 4.5 percent lower than the total number of insolvencies in May 2010. Consumer insolvencies have decreased by 4.9 percent, while business insolvencies have increased by 6.0 percent.

For the 12-month period ending May 31, 2011, the total number of insolvencies decreased by 11.5 percent compared with the 12-month period ending May 31, 2010. It is worth noting that the total volume of insolvency still remains 16.6 percent higher than the 12-month period (October 2007 – September 2008) preceding the recession.

Consumer insolvencies decreased by 11.2 percent compared with the 12-month period ending May 31, 2010. Consumer bankruptcies decreased by 19.7 percent, while consumer proposals increased by 12.4 percent. For the 12-month period ending May 31, 2011, 96.4 percent of total insolvencies were filed by consumers.

Business insolvencies fell by 19.7 percent compared with the 12-month period ending May 31, 2010. A reduction in the number of insolvencies among the transportation and warehousing; retail trade; manufacturing; construction; professional, scientific and technical services; and accommodation and food services sectors largely contributed to this decrease.

The proportion of proposals in consumer insolvencies increased to 33.7 percent during the 12-month period ending May 31, 2011, up from 21.6 percent during the 12-month period ending September 30, 2009. This increase may be an indication that consumers are taking advantage of changes to the Bankruptcy and Insolvency Act (BIA). The changes, implemented on September 18, 2009, allow consumers more flexibility in filing proposals.

please refer to this site.

Insolvencies decline by 12.8% in April, 2011 compared with the same month the previous year.

The comments by the Office of the Superintendent of Bankruptcy are as follow:

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 10.6 percent in April 2011 from the previous month. Bankruptcies decreased by 8.3 percent, whereas proposals decreased by 14.8 percent. Over the past 10 years, there were only four years when the total number of insolvencies filed in the month of April was higher than the total number filed in March.

The total number of insolvencies in April 2011 was 12.8 percent lower than the total number of insolvencies in April 2010. Consumer insolvencies have decreased by 12.2 percent, while business insolvencies have decreased by 27.5 percent.

For the 12-month period ending April 30, 2011, the total number of insolvencies decreased by 12.1 percent compared with the 12-month period ending April 30, 2010. It is worth noting that the total volume of insolvency still remains 17.1 percent higher than the 12-month period (October 2007 � September 2008) preceding the recession.

For the 12-month period ending April 30, 2011, consumer insolvencies decreased by 11.7 percent compared with the 12-month period ending April 30, 2010. Consumer bankruptcies decreased by 20.1 percent, while consumer proposals increased by 12.2 percent. For the 12-month period ending April 30, 2011, 96.4 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending April 30, 2011, fell by 22.2 percent compared with the 12-month period ending April 30, 2010. A reduction in the number of insolvencies among the transportation and warehousing; retail trade; construction; manufacturing; professional, scientific and technical services; and accommodation and food services sectors largely contributed to this decrease.

The proportion of proposals in consumer insolvencies increased to 33.1 percent during the 12-month period ending April 30, 2011, up from 21.6 percent during the 12-month period ending September 30, 2009. This increase may be an indication that consumers are taking advantage of changes to the Bankruptcy and Insolvency Act (BIA). The changes, implemented on September 18, 2009, allow consumers more flexibility in filing proposals.

please refer to this site.

Insolvencies decline by 4.9% in March, 2011 compared with the same month the previous year.

The comments by the Office of the Superintendent of Bankruptcy are as follow:

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 19.2 percent in March 2011 from the previous month. Bankruptcies increased by 19.2 percent, whereas proposals increased by 19.1 percent. Over the past 10 years, the total number of insolvencies filed in the month of March was always higher than the total number filed in February.

The total number of insolvencies in March 2011 was 4.9 percent lower than the total number of insolvencies in March 2010. Consumer insolvencies have decreased by 5.2 percent, while business insolvencies have increased by 2.3 percent.

For the 12-month period ending March 31, 2011, the total number of insolvencies decreased by 11.9 percent compared with the 12-month period ending March 31, 2010. It is worth noting that the total volume of insolvency still remains 18.5 percent higher than the 12-month period (October 2007 � September 2008) preceding the recession.

For the 12-month period ending March 31, 2011, consumer insolvencies decreased by 11.5 percent compared with the 12-month period ending March 31, 2010. Consumer bankruptcies decreased by 20.4 percent, while consumer proposals increased by 14.9 percent. For the 12-month period ending March 31, 2011, 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending March 31, 2011, fell by 20.9 percent compared with the 12-month period ending March 31, 2010. A reduction in the number of insolvencies among the transportation and warehousing; retail trade; manufacturing; construction; professional, scientific and technical services; and accommodation and food services sectors largely contributed to this decrease.

The proportion of proposals in consumer insolvencies increased to 32.7 percent during the 12-month period ending March 31, 2011, up from 21.6 percent during the 12-month period ending September 30, 2009. This increase may be an indication that consumers are taking advantage of changes to the Bankruptcy and Insolvency Act (BIA). The changes, implemented on September 18, 2009, allow consumers more flexibility in filing proposals.

please refer to this site.

Insolvencies decline by 7.5% in February, 2011 compared with February, 2010.

The comments by the Office of the Superintendent of Bankruptcy are as follow:

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 11.2 percent in February 2011 from the previous month. Bankruptcies increased by 10.2 percent, whereas proposals increased by 12.9 percent. Over the past 10 years, there was only one year when the total number of insolvencies filed in the month of February was lower than the total number filed in January.

The total number of insolvencies in February 2011 was 7.5 percent lower than the total number of insolvencies in February 2010. Consumer insolvencies have decreased by 7.0 percent, while business insolvencies have decreased by 19.5 percent.

For the 12-month period ending February 28, 2011, the total number of insolvencies decreased by 12.0 percent compared with the 12-month period ending February 28, 2010. It is worth noting that the total volume of insolvency still remains 19.1 percent higher than the 12-month period (October 2007 � September 2008) preceding the recession.

For the 12-month period ending February 28, 2011, consumer insolvencies decreased by 11.6 percent compared with the 12-month period ending February 28, 2010. Consumer bankruptcies decreased by 20.7 percent, while consumer proposals increased by 16.7 percent. For the same period, 96.4 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending February 28, 2011, fell by 22.1 percent compared with the 12-month period ending February 28, 2010. A reduction in the number of insolvencies among the transportation and warehousing; manufacturing; retail trade; construction; professional, scientific and technical services; and accommodation and food services sectors largely contributed to this decrease.

The proportion of proposals in consumer insolvencies increased to 32.2 percent during the 12-month period ending February 28, 2011, up from 21.6 percent during the 12-month period ending September 30, 2009. This increase may be an indication that consumers are taking advantage of changes to the Bankruptcy and Insolvency Act (BIA). The changes, implemented on September 18, 2009, allow consumers more flexibility in filing proposals.

In February 2011, four Companies� Creditors Arrangement Act (CCAA) proceedings were filed. Please refer to the CCAA Records for additional details. Note: The Insolvency Statistics in Canada � February 2011 Report, which pertains to bankruptcies and proposals filed under the BIA, does not include CCAA filings.

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

Insolvencies decline by 8.7% in January, 2011 compared with January, 2010.

The comments by the Office of the Superintendent of Bankruptcy are as follow:

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 7.6 percent in January 2011 from the previous month. Bankruptcies decreased by 12.9 percent, whereas proposals increased by 3.7 percent. Over the past 10 years, there were only three years when the total number of insolvencies filed in the month of January was lower than the total number filed in December.

The total number of insolvencies in January 2011 was 8.7 percent lower than the total number of insolvencies in January 2010. Consumer insolvencies have decreased by 8.1 percent, while business insolvencies have decreased by 22.1 percent.

For the 12-month period ending January 31, 2011, the total number of insolvencies decreased by 11.9 percent compared with the 12-month period ending January 31, 2010. It is worth noting that the total volume of insolvency still remains 19.8 percent higher than the 12-month period (October 2007 – September 2008) preceding the recession.

For the 12-month period ending January 31, 2011, consumer insolvencies decreased by 11.4 percent compared with the 12-month period ending January 31, 2010. Consumer bankruptcies decreased by 20.7 percent, while consumer proposals increased by 18.1 percent. For the same period, 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending January 31, 2011, fell by 22.6 percent compared with the 12-month period ending January 31, 2010. A reduction in the number of insolvencies among the transportation and warehousing; retail trade; manufacturing; construction; accommodation and food services; and professional, scientific and technical services sectors largely contributed to this decrease.

The proportion of proposals in consumer insolvencies increased to 31.8 percent during the 12-month period ending January 31, 2011, up from 21.6 percent during the 12-month period ending September 30, 2009. This increase may be an indication that consumers are taking advantage of changes to the Bankruptcy and Insolvency Act (BIA). The changes, implemented on September 18, 2009, allow consumers more flexibility in filing proposals.

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

Insolvencies decline by 11.5% in 2010 compared with the previous year.

For the 12 months ended December 31, 2010 insolvencies were down by 11.5% compared with the 12 months ended December 31, 2009. (140,2311/158,441).

The comments by the Office of the Superintendent of Bankruptcy are as follow:

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 16.7 percent in December 2010 from the previous month. Bankruptcies decreased by 14.2 percent, whereas proposals decreased by 21.5 percent.

The total number of insolvencies in December 2010 was 7.8 percent lower than the total number of insolvencies in December 2009. Consumer insolvencies have decreased by 7.9 percent, while business insolvencies have decreased by 6.7 percent.

For the 12-month period ending December 31, 2010, the total number of insolvencies decreased by 11.5 percent compared with the 12-month period ending December 31, 2009. It is worth noting that the total volume of insolvency still remains 20.6 percent higher than the 12-month period (October 2007 – September 2008) preceding the recession.

For the 12-month period ending December 31, 2010, consumer insolvencies decreased by 11.0 percent compared with the 12-month period ending December 31, 2009. Consumer bankruptcies decreased by 20.4 percent, while consumer proposals increased by 19.8 percent. For the same period, 96.3 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending December 31, 2010, fell by 22.3 percent compared with the 12-month period ending December 31, 2009. A reduction in the number of insolvencies among the manufacturing; retail trade; transportation and warehousing; accommodation and food services; and construction sectors largely contributed to this decrease.

The proportion of proposals in consumer insolvencies increased to 31.3 percent during the 12-month period ending December 31, 2010, up from 21.6 percent during the 12-month period ending September 30, 2009. This increase may be an indication that consumers are taking advantage of changes to the Bankruptcy and Insolvency Act. The changes, implemented on September 18, 2009, allow consumers more flexibility in filing proposals.