Highlights
Insolvency Statistics in Canada — March 2010

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.

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