2015 vs 2014 Insolvency Statistics in Canada

Insolvency Statistics

Insolvency Stats in Canada

Below is the Office of the Superintendent of Bankruptcy Canada’s latest data on insolvency statistics in Canada, which is also sorted by provinces. Some provinces were hit harder than others with an increase in insolvency rates.

In Canada, overall insolvency rates are up. With a 3% increase from 2014 to 2015. Total number of Bankruptcies in Canada for 2014 was 64,839, while in 2015 was 63,406 for an actual decrease in overall bankruptcies by 2.2%. For Proposals, in 2014 there were 53,211 and in 2015 was 58,203 for an overall increase by 9.4% in consumer proposals. From 2014 to 2015, there was an increase in proposals for Ontarians.

 

Province Volume 2015
2015 2014 % Change Assets Declared at the Time of Filing ($) Liabilities Declared at the Time of Filing ($)
Newfoundland and Labrador 1,822 1,545 17.9 156,098,820 220,801,462
Bankruptcies 1,498 1,348 11.1 102,114,221 163,025,907
Proposals 324 197 64.5 53,984,599 57,775,555
Prince Edward Island 806 721 11.8 53,314,386 87,661,924
Bankruptcies 519 502 3.4 29,262,408 56,637,083
Proposals 287 219 31.1 24,051,978 31,024,841
Nova Scotia 5,232 5,227 0.1 443,250,633 578,361,245
Bankruptcies 3,648 3,726 -2.1 244,020,410 378,551,282
Proposals 1,584 1,501 5.5 199,230,223 199,809,963
New Brunswick 4,331 4,308 0.5 364,559,367 533,871,031
Bankruptcies 2,814 3,021 -6.9 175,843,216 316,441,228
Proposals 1,517 1,287 17.9 188,716,151 217,429,803
Quebec 43,705 41,554 5.2 3,340,368,146 4,317,805,874
Bankruptcies 24,539 24,447 0.4 1,131,601,417 2,170,055,264
Proposals 19,166 17,107 12 2,208,766,729 2,147,750,610
Ontario 39,935 41,108 -2.9 3,110,946,128 4,406,774,939
Bankruptcies 17,958 19,234 -6.6 801,153,818 1,965,130,795
Proposals 21,977 21,874 0.5 2,309,792,310 2,441,644,144
Manitoba 2,098 1,891 10.9 214,847,634 294,297,181
Bankruptcies 1,264 1,200 5.3 95,582,091 178,927,066
Proposals 834 691 20.7 119,265,543 115,370,115
Saskatchewan 2,198 1,938 13.4 329,983,601 357,094,975
Bankruptcies 1,155 1,105 4.5 121,924,854 173,908,444
Proposals 1,043 833 25.2 208,058,747 183,186,531
Alberta 9,810 8,281 18.5 1,324,889,692 1,707,944,001
Bankruptcies 4,280 3,859 10.9 433,861,199 802,185,572
Proposals 5,530 4,422 25.1 891,028,493 905,758,429
British Columbia 11,580 11,383 1.7 1,123,751,469 1,601,413,643
Bankruptcies 5,683 6,345 -10.4 388,511,780 814,669,138
Proposals 5,897 5,038 17.1 735,239,689 786,744,505
Northwest Territories 52 49 6.1 5,523,615 7,994,766
Bankruptcies 28 26 7.7 2,377,970 4,562,289
Proposals 24 23 4.3 3,145,645 3,432,477
Yukon 35 39 -10.3 6,917,885 11,566,723
Bankruptcies 18 22 -18.2 2,126,896 6,890,453
Proposals 17 17 0 4,790,989 4,676,270
Nunavut 5 6 -16.7 37,703 292,193
Bankruptcies 2 4 -50 16,300 174,789
Proposals 3 2 50 21,403 117,404
Canada 121,609 118,050 3 10,474,489,079 14,125,879,957
Bankruptcies 63,406 64,839 -2.2 3,528,396,580 7,031,159,310
Proposals 58,203 53,211 9.4 6,946,092,499 7,094,720,647

 

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