NEWS FLASH! July 14, 2010:
Insolvencies decline by 10.1% in April, 2010.
Consumer Bankruptcies were down by 21.1% in April, 2010 compared with the same month in 2009. (8,633/10,936).
Business Bankruptcies were down by 17.8% in April, 2010 compared with the same month in 2009. (435/529).
Proposals were up by 31.1% in April, 2010 compared with the same month in 2009. (3,920/2,990).
For the 12 months ended April 30, 2010 insolvencies were up by 14.0% compared with the 12 months ended April 30, 2009. (154,935/135,927).
The Office of the Superintendent of Bankruptcy comments on the Insolvency statistics are:
The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 2.5 percent in April 2010 from the previous month. Bankruptcies decreased by 1.3 percent whereas proposals decreased by 5.2 percent. Over the last 10 years, the total number of insolvencies filed in the month of April was lower than the total number filed in March on six occasions.
The total number of insolvencies in April 2010 was 10.1 percent lower than the total number of insolvencies in April 2009. Consumer insolvencies have decreased by 10.0 percent while business insolvencies have decreased by 13.2 percent.
For the 12-month period ending April 30, 2010, total insolvencies increased by 14.0 percent compared with the 12-month period ending April 30, 2009. This is entirely due to an increase in consumer insolvencies.
Business insolvencies for the 12-month period ending April 30, 2010, fell by 11.9 percent compared with the 12-month period ending April 30, 2009. A reduction in insolvencies in the transportation and warehousing; construction; manufacturing; and other services (except public administration) sectors contributed to this decrease.
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