Insolvencies decline by 6.5% in March, 2010.
Consumer Bankruptcies were down by 17.0% in March, 2010 compared with the same month in 2009. (8,784/10,578).
Business Bankruptcies were down by 20.5% in March, 2010 compared with the same month in 2009. (403/507).
Proposals were up by 30.9% in March, 2010 compared with the same month in 2009. (4,135/3,159).
For the 12 months ended March 31, 2010 insolvencies were up by 18.1% compared with the 12 months ended March 31, 2009. (156,402/132,405).
The Office of the Superintendent of Bankruptcy comments on the Insolvency statistics are:
The total number of insolvencies (bankruptcies and proposals) in Canada increased by 15.9 percent in March 2010 from the previous month. Bankruptcies increased by 15.5 percent whereas proposals increased by 16.6 percent. Over the last 10 years, the total number of insolvencies filed in the month of March was higher than the total number filed in February, except on one occasion.
The total number of insolvencies in March 2010 was 6.5 percent lower than the total number of insolvencies in March 2009. Consumer insolvencies have decreased by 6.1 percent while business insolvencies have decreased by 14.5 percent.
For the 12-month period ending March 31, 2010, total insolvencies increased by 18.1 percent compared with the 12-month period ending March 31, 2009. This is entirely due to an increase in consumer insolvencies.
Business insolvencies for the 12-month period ending March 31, 2010, fell by 11.6 percent compared with the 12-month period ending March 31, 2009. A reduction in insolvencies in the construction; transportation and warehousing; agriculture, forestry, fishing and hunting; and manufacturing sectors contributed to this decrease.
For more information and more detailed analysis please refer to this site.

A trustee in bankruptcy! That must be one of the saddest jobs in the world!





