Highlights
Insolvency Statistics in Canada — February 2010

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 9.7 percent in February 2010 from the previous month. Bankruptcies increased by 8.2 percent whereas proposals increased by 13.4 percent. Over the last 10 years, monthly variations between the months of January and February have been mostly positive. Total number of insolvencies filed in the month of February has been lower than the number filed in January only on one occasion over the past 10 years.

In comparison with the same month last year, the total number of insolvencies in February 2010 was 6.7 percent lower than the total number of insolvencies in February 2009. Consumer insolvencies have decreased by 5.7 percent while business insolvencies have decreased by 25.6 percent.

For the 12-month period ending February 28, 2010, total insolvencies increased by 23.3 percent compared with the 12-month period ending February 28, 2009. This is entirely due to an increase in consumer insolvencies.

Business insolvencies for the 12-month period ending February 28, 2010, fell by 11.6 percent compared with the 12-month period ending February 28, 2009. A reduction in insolvencies in agriculture, forestry, fishing and hunting; transportation and warehousing; construction; wholesale trade; and information and cultural industries sectors contributed to this decrease.

In February 2010, five Companies’ Creditors Arrangement Act (CCAA) proceedings were filed. Please refer to the CCAA Records for additional details. Note: The Insolvency Statistics in Canada – February 2010 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 2010.