June 4th, 2009
NEWS FLASH! June 4th, 2009:
Canadian Insolvencies Increase by 32.2% for the Month of April, 2009 compared with the Same Month in 2008.
Consumer Bankruptcies were up 36.1% compared with the same month the previous year.
Business Bankruptcies were down by 10.6% compared with the same month the previous year.
Proposals were up by 29.7% compared with the same month the previous year.
For the 12 months ended April 30, 2009 Insolvencies are up by 22.1% compared with the previous year; (2009:135,927 - 2008:111,291)
Provinces with Double Digit Changes in
the Insolvency Rate in April, 2009
compared with April, 2008.
% Increase
(Decrease)
NL 30.6
PE 45.3
NB 45.3
QC 20.1
ON 32.8
MB 29.4
SK 34.7
AB 70.3
BC 68.8
For more information and more detailed analysis please refer to this site.
Posted in Bankruptcy Statistics | No Comments »
May 12th, 2009
NEWS FLASH! May 12th, 2009:
Canadian Insolvencies Increase by 51.3% for the Month of March, 2009 compared with the Same Month in 2008.
Consumer Bankruptcies were up 57.0% compared with the same month the previous year.
Business Bankruptcies were down by 10.3% compared with the same month the previous year.
Proposals were up by 49.3% compared with the same month the previous year.
For the 12 months ending March 31, 2009 Insolvencies are up by 20.8% compared with the previous year; (2009:132,405 - 2008:109,622)
Provinces with Double Digit Changes in
the Insolvency Rate in March, 2009
compared with March, 2008.
% Increase
(Decrease)
NL 91.7
NS 16.9
NB 31.0
QC 42.3
ON 56.6
MB 41.8
SK 16.9
AB 75.8
BC 69.0
For more information and more detailed analysis please refer to this site.
Posted in Bankruptcy Statistics | 2 Comments »
April 17th, 2009
Canadian Insolvencies Increase by 25.3% for the Month of February, 2009 compared with the Same Month in 2008.
Consumer Bankruptcies were up 25.2% compared with the same month the previous year.
Business Bankruptcies were down by 16.5% compared with the same month the previous year.
Proposals were up by 37.5% compared with the same month the previous year.
For the 12 months ending February 28th, 2009 Insolvencies are up by 15.8% compared with the previous year; (2009:125,087 - 2008:109,239)
Provinces with Double Digit Changes in
the Insolvency Rate in February, 2009
compared with February, 2008.
% Increase
(Decrease)
NL 22.8
PE (21.7)
QC 18.6
ON 26.9
MB 18.3
SK 23.8
AB 55.0
BC 45.8
For more information and more detailed analysis please refer to this site.
Posted in Bankruptcy Statistics | 1 Comment »
March 25th, 2009
Canadian Insolvencies Increase by 20.8% for the Month of January, 2009 compared with the Same Month in 2008.
Consumer Bankruptcies were up 21.7% compared with the same month the previous year.
Business Bankruptcies were down by 14.7% compared with the same month the previous year.
Proposals were up by 27.3% compared with the same month the previous year.
For the 12 months ending January 31, 2009 Insolvencies are up by 14.5% compared with the previous year; (2009:125,087 - 2008:109,239)
Provinces with Double Digit Changes in
the Insolvency Rate in January, 2009
compared with January, 2008.
Province
% Increase
(Decrease)
NL (13.6)
PE 38.1
QC 12.0
ON 23.9
AB 54.7
BC 48.5
For more information and more detailed analysis please refer to this site.
Posted in Bankruptcy Statistics | No Comments »
February 9th, 2009
Recession Drives 2008 Insolvencies to a Record High.
Canadian Insolvencies Increase by 45% for the Month of December, 2008 compared with the Same Month in 2007.
Consumer Bankruptcies were up 50.6% compared with the same month the previous year.
Business Bankruptcies were up by 2.4% compared with the same month the previous year.
Proposals were up by 39.1% compared with the same month the previous year.
For the 12 months ending December 31, 2008 Insolvencies are up by 13.2% compared with the previous year; (2008:123,234 - 2007:108,905)
Provinces with Double Digit Changes in
the Insolvency Rate in December, 2008
compared with December, 2007.
Province
% Increase
(Decrease)
NL (17.5)
NS 44.7
PE 269.2
NB 65.4
QC 37.6
ON 47.1
MB 30.2
SK 28.3
AB 84.4
BC 45.3
For more information and more detailed analysis please refer to this site.
Posted in Bankruptcy Statistics | 1 Comment »
January 20th, 2009
Charges laid under the Bankruptcy and Insolvency Act increased in 2007.
The Office of the Superintendent of Bankruptcy (OSB) reported in its newsletter released on January 20, 2009 that its Criminal Investigation Unit (CIU) had increased its activity in 2007.
More than 60 debtors were indicted in 2007 on a total of 799 charges under the Criminal Code and/or the Bankruptcy and Insolvency Act. These debtors joined the group of 42 others who have undergone legal proceedings since the CIU was set up.
To date, 49 debtors have been found guilty and have received a prison term ranging from 6 to 18 months, a conditional sentence from 15 to 24 months, or a repayment order for up to $25,000. In most of these cases, the sentences also included probation orders of up to three years, starting from the end of the sentencing period, and up to 240 hours of community service.
The charges were filed under various sections of the Bankruptcy and Insolvency Act covering offences such as fraudulent disposition of property before filing for bankruptcy, fraudulent transfer of property, obtaining credit by means of false representation, and failure to disclose and assign all the bankrupt’s property to the trustee. Charges were also filed under sections of the Criminal Code covering such crimes as fraud, scams, criminal conspiracy and obtaining credit under false pretences.
At this time, the CIU has about 50 cases under way or pending. Its operations have recently been bolstered by the addition of a new investigator who joined the CIU in October 2007. Also, early in January 2008, in partnership with the RCMP, one of their investigators was assigned to the CIU in order to assist the OSB and to acquire experience in bankruptcy investigation.
Posted in Canadian Bankruptcy News | 1 Comment »
January 8th, 2009
Canadian Insolvencies Increase by 15.3% for the Month of November, 2008 compared with the Same Month in 2007.
Consumer Bankruptcies were up 15.1% compared with the same month the previous year.
Business Bankruptcies were down by 4% compared with the same month the previous year.
Proposals were up by 20.8% compared with the same month the previous year.
For the 12 months ending November 30, 2008 Insolvencies are up by 10% compared with the previous year; (2008:119,982 - 2007:109,119)
Provinces with Double Digit Changes in
the Insolvency Rate in November, 2008
compared with November, 2007.
Province
% Increase
(Decrease)
NS 18.7
PE 41.9
NB 18.0
QC 11.4
ON 17.1
MB (12.5)
AB 36.4
BC 17.5
For more information and more detailed analysis please refer to this site.
Posted in Bankruptcy Statistics | 1 Comment »
December 13th, 2008
QUESTIONS? ASK A TRUSTEE.
If you cannot find the answers to your questions on our FAQ page or elsewhere on our site you can click on the map at this link and ask any of the trustees your question.
If you would prefer, you can ask me your question by clicking on “Comments”, below and filling in the comments box. This service is confidential as your email address will NOT be displayed anywhere on your post.
Your question will be answered the same day.
Bookmark this page so you can check back for your answer!
IMPORTANT:
We can answer general bankruptcy questions. Specific questions probably cannot be answered because bankruptcy is complex and many questions cannot be answered without having full financial information. This is the purpose of the initial consultation with a trustee which takes approximately one hour.
A number of people have asked detailed questions on how to get around the fact that they lied on a credit applications or some other form of misrepresentation in order to get credit. We cannot answer these questions as it would not be proper. Trustees are officers of the court and cannot give advice on getting around the law.
Please don’t ask us questions if you already have a trustee. Your trustee knows all your financial information and can give you better answers than I can.
Please keep your questions down to one or two, at the most. If you have more questions than that you probably need an initial consultation with a trustee which takes approximately one hour.
Please do not ask for a legal opinion. If you want a legal opinion you will have to consult a lawyer.
Posted in Ask a Bankruptcy Trustee | 3,099 Comments »
December 4th, 2008
Canadian Insolvencies Increase by 22.4% for the Month of October, 2008 compared with the Same Month in 2007.
Consumer Bankruptcies were up 22.8% compared with the same month the previous year.
Business Bankruptcies were down by 3.3% compared with the same month the previous year.
Proposals were up by 27.2% compared with the same month the previous year.
For the 12 months ending October 31, 2008 Insolvencies are up by 8.9% compared with the previous year; (2008:118,498 - 2007:108,769)
Provinces with Double Digit Changes in
the Insolvency Rate in October, 2008
compared with October, 2007.
Province
% Increase
(Decrease)
NL 35.4
NS 18.0
PE 60.6
QC 15.7
ON 23.9
MB 30.4
AB 42.3
BC 32.3
For more information and more detailed analysis please refer to this site.
Posted in Bankruptcy Statistics | No Comments »
November 7th, 2008
NEWS FLASH! November 6th, 2008:
Canadian Insolvencies Increase by 30.3% for the Month of September, 2008 compared with the Same Month in 2007.
Consumer Bankruptcies were up 29.8% compared with the same month the previous year.
Business Bankruptcies were up by 8.9% compared with the same month the previous year.
Proposals were up by 37.7% compared with the same month the previous year.
For the 12 months ending September 30, 2008 Insolvencies are up by 7.4% compared with the previous year; (2008:116,282 - 2007:108,301)
Provinces with Double Digit Changes in
the Insolvency Rate in September, 2008
compared with September, 2007:
% Increase
(Decrease)
NL - 13.8
NS - 28.6
PE - 63.3
NB - 43.0
QC - 26.6
ON - 31.9
MB - 36.9
AB - 37.3
BC - 34.8
For more information and more detailed analysis please refer to this site.
Posted in Bankruptcy Statistics | No Comments »
