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Definitions
- CCAA:
- The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. CCAA proceedings are carried out under supervision of the courts.
- North American Industry Classification System (NAICS):
- The NAICS is an industry classification system that classifies economic units that have similar production processes in the same industry. This is a supply-based or production- oriented economic concept.
Highlights
Twelve Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the first quarter of 2021. Please refer to the CCAA Records List for additional details regarding each filing.
Company Name | Province | Sector | Monitor | Liabilities (in millions) |
---|---|---|---|---|
EncoreFX Inc. | British Columbia | Finance and insurance | Ernst & Young Inc. | $135 |
Hydrx Farms Ltd., Cannscience Innovations Inc. and Scientus Pharma Inc. | Ontario | Manufacturing | Schwartz Levitsky Feldman Inc. | $20 |
Just Energy Group (48 filing entities) | Ontario | Utilities | FTI Consulting Inc. | $1,285 |
Ardenton Capital Corporation and Ardenton Capital Bridging Inc. | British Columbia | Finance and insurance | KSV Restructuring Inc. | $346 |
Atis Group Inc., 10422916 Canada Inc., 8528853 Canada Inc., 9060642 Canada Inc., 9092455 Canada Inc., Distributeur Vitro Clair Inc., Solarcan Architectural Holding Limited, Vitrerie Lévis Inc., and Vitrotec Portes & Fenêtres Inc. | Quebec | Manufacturing | Raymond Chabot Inc. | $97 |
TGF Acquisition Parent Ltd., Sun Rich Fresh Foods Inc. & Tiffany Gate Foods Inc. | Ontario | Manufacturing | Ernst & Young Inc. | $187 |
Calgary Oil & Gas Syndicate Group Ltd., Calgary Oil and Gas Intercontinental Group Ltd., T5 SC Oil and Gas Limited Partnership, Calgary Oil and Syndicate Partners Ltd. and Petroworld Energy Ltd. | Alberta | Mining, quarrying, and oil and gas extraction | BDO Canada Limited | $43 |
Laurentian University of Sudbury | Ontario | Educational services | Ernst & Young Inc. | $322 |
Kanwal Inc. and 9058-0150 Quebec Inc. | Quebec | Wholesale trade | PricewaterhouseCoopers Inc. | $26 |
Yatsen Group of Companies Inc., SAR Real Estate Inc. et al. | Ontario | Accommodation and food services | Alvarez & Marsal Canada Inc. | $79 |
FIGR Brands, Inc., Canada's Island Garden Inc., and FIGR Norfolk Inc. | Ontario | Agriculture, forestry, fishing and hunting | FTI Consulting Inc. | $203 |
Boutique Tristan & Iseut Inc. | Quebec | Retail trade | MNP Ltd. | $39 |
Filings by regionFootnote *
For more information, see Table 2: Total CCAA Proceedings Filed by Province.
Filings by NAICS economic sector
For more information, see Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada.
Recently closed filesFootnote **
Company Name | Sector | Monitor | Outcome | Duration of the Proceeding (in days) | Liabilities (in millions) |
---|---|---|---|---|---|
Gestion Maison Éthier Inc. and Gestion Immobilière Maison Éthier Inc. | Retail trade | KPMG Inc. | Concluded - compromise or arrangement completed | 391 | $23 |
Java-U Group Inc., Java-U Food Services Inc., Café Java-U Inc. and Java-U RTA Inc. | Management of companies and enterprises | Raymond Chabot Inc. | Concluded - compromise or arrangement completed | 1074 | $10 |
Korite International Inc. | Administrative and support, waste management and remediation services | BDO Canada Limited | Terminated – no compromise or arrangement sanctioned by court | 164 | $16 |
MM Project Management Services Inc. | Construction | The Bowra Group Inc. | Concluded - compromise or arrangement completed | 460 | $108 |
Wicker Emporium Limited | Retail trade | MNP Ltd. | Taken up under BIA | 1014 | $5 |
Ghana Gold Corporation | Mining, quarrying, and oil and gas extraction | Collins Barrow LLP | Terminated – no compromise or arrangement sanctioned by court | 2730 | $7 |
- | Volume | +/- Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q1 2021 | Q4 2020 | Q1 2020 | Q4 2020 - Q1 2021 | Q1 2020 - Q1 2021 | 03-31-2021 | 03-31-2020 | +/- Change | |
Total Domestic Proceedings FiledFootnote 1 | 12 | 6 | 11 | 6 | 1 | 61 | 36 | 25 |
Filing Affiliates | 104 | 23 | 24 | 81 | 80 | 310 | 195 | 115 |
Filed by Publicly-Traded Companies | 1 | 2 | 3 | -1 | -2 | 11 | 11 | 0 |
Filed by Privately-Held Companies | 11 | 4 | 8 | 7 | 3 | 50 | 25 | 25 |
Total Liabilities - Book ValueFootnote 2 | $2,777.853 | $394.204 | $589.213 | $2,383.649 | $2,188.640 | $10,947.202 | $6,113.614 | $4,833.589 |
% of Secured Liabilities | 19.97% | 38.49% | 49.02% | n/a | n/a | 41.12% | 67.58% | n/a |
% of Unsecured Liabilities | 80.03% | 61.51% | 50.98% | n/a | n/a | 58.88% | 32.42% | n/a |
Total Assets - Book Value | $2,388.875 | $326.549 | $1,059.618 | $2,062.326 | $1,329.257 | $10,749.660 | $11,844.675 | -$1,095.015 |
- | Volume | +/- Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q1 2021 | Q4 2020 | Q1 2020 | Q4 2020 - Q1 2021 | Q1 2020 - Q1 2021 | 03-31-2021 | 03-31-2020 | +/- Change | |
Newfoundland and Labrador | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 |
Prince Edward Island | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nova Scotia | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
New Brunswick | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quebec | 3 | 1 | 2 | 2 | 1 | 16 | 9 | 7 |
Ontario | 6 | 4 | 5 | 2 | 1 | 22 | 14 | 8 |
Manitoba | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Saskatchewan | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Alberta | 1 | 0 | 0 | 1 | 1 | 11 | 5 | 6 |
British Columbia | 2 | 1 | 3 | 1 | -1 | 9 | 6 | 3 |
Northwest Territories | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Yukon | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nunavut | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Canada | 12 | 6 | 11 | 6 | 1 | 58 | 36 | 22 |
- | Volume | +/- Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q1 2021 | Q4 2020 | Q1 2020 | Q4 2020 - Q1 2021 | Q1 2020 - Q1 2021 | 03-31-2021 | 03-31-2020 | +/- Change | |
Agriculture, Forestry, Fishing and Hunting | 1 | 2 | 1 | -1 | 0 | 7 | 5 | 2 |
Mining, Quarrying and Oil and Gas Extraction | 1 | 0 | 1 | 1 | 0 | 9 | 10 | -1 |
Utilities | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 1 |
Construction | 0 | 0 | 1 | 0 | -1 | 2 | 3 | -1 |
Manufacturing | 3 | 1 | 3 | 2 | 0 | 10 | 7 | 3 |
Wholesale Trade | 1 | 0 | 0 | 1 | 1 | 1 | 2 | -1 |
Retail Trade | 1 | 1 | 1 | 0 | 0 | 12 | 2 | 10 |
Transportation and Warehousing | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 |
Information and Cultural Industries | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 |
Finance and Insurance | 2 | 0 | 0 | 2 | 2 | 3 | 0 | 3 |
Real Estate, Rental and Leasing | 0 | 0 | 1 | 0 | -1 | 3 | 2 | 1 |
Professional, Scientific and Technical Services | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Management of Companies and Enterprises | 0 | 0 | 1 | 0 | -1 | 3 | 1 | 2 |
Administrative and Support, Waste Management and Remediation Services | 0 | 0 | 1 | 0 | -1 | 3 | 1 | 2 |
Educational Services | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 0 |
Health Care and Social Assistance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Arts, Entertainment and Recreation | 0 | 1 | 0 | -1 | 0 | 2 | 0 | 2 |
Accommodation and Food Services | 1 | 1 | 0 | 0 | 1 | 2 | 0 | 2 |
Other Services (except Public Administration) | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Public Administration | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Canada | 12 | 6 | 11 | 6 | 1 | 61 | 36 | 25 |