Highlights
Insolvency Statistics in Canada — June 2010

The total number of insolvencies (bankruptcies and proposals) in Canada increased by 7.1 percent in June 2010 from the previous month. Bankruptcies increased by 4.3 percent whereas proposals increased by 14.0 percent. Over the last 10 years, the total number of insolvencies filed in the month of June was higher than the total number filed in May three times.

The total number of insolvencies in June 2010 was 14.4 percent lower than the total number of insolvencies in June 2009. Consumer insolvencies have decreased by 13.7 percent while business insolvencies have decreased by 28.9 percent. For the 12-month period ending June 30, 2010, total insolvencies increased by 5.1 percent compared with the 12-month period ending June 30, 2009. This is entirely due to an increase in consumer insolvencies.

Business insolvencies for the 12-month period ending June 30, 2010, fell by 16.7 percent compared with the 12-month period ending June 30, 2009. A reduction in insolvencies in the transportation and warehousing; retail trade; and other services (except public administration) sectors contributed to this decrease.

In June 2010, no Companies’ Creditors Arrangement Act (CCAA) proceedings were filed.

Read the report Insolvency Statistics in Canada — June 2010.