CCAA Statistics—First Quarter of 2021

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 *

Text version

This line graph presents the number of filings per quarter under the Companies' Creditors Arrangement Act (CCAA), broken down by the East, Ontario and West Regions from the first quarter of 2019 to the first quarter of 2021. The note to the table explains that East Region includes New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec; Ontario Region includes Ontario; and West Region includes Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan, and Yukon.

The x-axis represents the quarters for the data points, starting at the first quarter of 2019 and continuing for each quarter until the first quarter of 2021.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 2 until it reaches 14. The legend on the right side of the chart shows that East Region is represented by a blue line with diamonds to mark data points; Ontario Region is represented by a purple line with squares for data points; and the West Region is represented by a green line with triangles for data points.

For the first quarter of 2019, the Ontario Region increased to 6 filings, the West Region increased to 4 filings, and the East Region increased to 3 filings.

For the second quarter of 2019, the Ontario Region and the West Region both dropped to 1 filing, and the East Region dropped to 2 filings.

For the third quarter of 2019, the West Region increased to 3 filings, the Ontario Region increased to 2 filings, and the East Region dropped to 1 filing.

For the fourth quarter of 2019, the West Region increased to 4 filings, the Ontario Region increased to 6 filings, and the East Region increased to 5 filings.

For the first quarter of 2020, the West Region remained at 4 filings, the Ontario Region dropped to 5 filings, and the East Region dropped to 2 filings.

For the second quarter of 2020, the West Region increased to 12 filings, the Ontario Region increased to 10 filings, and the East Region increased to 5 filings. 

For the third quarter of 2020, the East Region increased to 7 filings, the West Region dropped to 4 filings, and the Ontario Region dropped to 4 filings.

For the fourth quarter of 2020, the East Region and the West Region both dropped to 1 filing, and the Ontario Region remained to 4 filings.

For the first quarter of 2021, the East Region and the West Region both increased to 3 filings, and the Ontario Region increased to 6 filings.

To the left of the line graph is a summary of CCAA filings by province for the most recent quarter, the first quarter of 2021, British Columbia had 2 filings (17%), Quebec had 3 filings (25%), Ontario had 6 filings (50%), and Alberta had 1 filing (8%).

For more information, see Table 2: Total CCAA Proceedings Filed by Province.

Filings by NAICS economic sector

Text version

This bar graph breaks down filings under the Companies' Creditors Arrangement Act (CCAA) by economic sector as defined by the North American Industry Classification System (NAICS). The data is for the first quarter of 2021. 

The x-axis represents the sectors, which had filings in the first quarter of 2021. There are 9 sectors represented, each shown with a blue vertical bar. The 9 sectors represented in the first quarter of 2021 are as below:

  1. The manufacturing sector had 3 filings.
  2. The finance and insurance sector had 2 filings.
  3. The accommodation and food services sector had 1 filing.
  4. The agriculture, forestry, fishing and hunting sector had 1 filing.
  5. The retail trade sector had 1 filing.
  6. The utilities sector had 1 filing.
  7. The mining, quarrying, and oil and gas extraction sector had 1 filing.
  8. The educational services sector had 1 filing.
  9. The wholesale trade sector had 1 filing.

The y-axis shows the number of CCAA filings. The baseline is zero, increasing by increments of 1 until it reaches 7.

[Text in margin] The sector with the most filings this quarter was manufacturing.

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

Table 1: Total CCAA ProceedingsDomestic
- 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
Table 2: Total CCAA Proceedings Filed by Province
- 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
Table 3: CCAA Proceedings Filed by NAICS Economic Sector, CanadaFootnote 3
- 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 1 1  0 9 10 -1
Utilities 1  0 1 1 1 1
Construction 0 1  0 -1 2 3 -1
Manufacturing 3 1 3 2 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