Highlights
Insolvency Statistics in Canada—February 2012

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 16.5 percent in February 2012 from the previous month. Bankruptcies increased by 15.3 percent, whereas proposals increased by 18.4 percent.

The total number of insolvencies in February 2012 was 2.1 percent higher than the total number of insolvencies in February 2011. Consumer insolvencies have increased by 1.8 percent, while business insolvencies have increased by 9.5 percent.

For the 12-month period ending , the total number of insolvencies decreased by 7.7 percent compared with the 12-month period ending .

Consumer insolvencies for the 12-month period ending , decreased by 7.9 percent compared with the 12-month period ending . Consumer bankruptcies decreased by 14.5 percent, while consumer proposals increased by 6.1 percent. The proportion of proposals in consumer insolvencies increased to 37.1 percent during the 12-month period ending , up from 32.2 percent during the 12-month period ending . For the 12-month period ending , 96.2 percent of total insolvencies were filed by consumers.

Business insolvencies for the 12-month period ending , fell by 4.3 percent compared with the 12-month period ending . The three sectors that registered the biggest decrease in the number of insolvencies were retail trade; real estate and rental and leasing; and transportation and warehousing.

Five Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in February 2012. Please refer to the CCAA records for additional details. Note: The Insolvency Statistics in Canada—February 2012 report, which pertains to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, does not include CCAA filings.

Read the report Insolvency Statistics in Canada—February 2012.