Sections
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
| Date of proceedings | Company name | Province | Sector | Monitor | Liabilities (in millions) |
|---|---|---|---|---|---|
| 2024-06-28 | good natured Products Inc., good natured Real Estate Holdings (Ontario) Inc., 1306187 B.C. Ltd., good natured Products (CAD) Inc., good natured Products Packaging Canada GP Inc. | British Columbia | Manufacturing | ALVAREZ & MARSAL CANADA INC. | $85.7 |
| 2024-06-20 | Atlas Global Brands Inc., et al. | Ontario | Agriculture, forestry, fishing and hunting | ERNST & YOUNG INC. | $55.1 |
| 2024-06-13 | Indiva Limited, Indiva Amalco Ltd., Indiva Inc., Vieva Canada Limited, and 2639177 Ontario Inc | Ontario | Manufacturing | PRICEWATERHOUSECOOPERS INC. | $39.0 |
| 2024-06-05 | Karwood Estates Inc. and Gregg Construction Limited | Newfoundland and Labrador | Real estate and rental and leasing | GRANT THORNTON LIMITED | $18.2 |
| 2024-06-03 | Inca One Gold Corp. | British Columbia | Mining, quarrying, and oil and gas extraction | FTI CONSULTING CANADA INC. | $29.8 |
| 2024-05-24 | Altek Industrial Supply Ltd., Altek USA Holdings Corp., Altek Supply USA Inc., HDIM Protective Coatings Inc. and 610461 Alberta Ltd. | Alberta | Agriculture, forestry, fishing and hunting | PRICEWATERHOUSECOOPERS INC. | $21.9 |
| 2024-05-17 | INTELGENX TECHNOLOGIES CORP. and INTELGENX CORP. | Quebec | Manufacturing | ERNST & YOUNG INC. | $21.9 |
| 2024-05-21 | Eastern Meat Solutions Inc. ("EMS"), et al. | Ontario | Wholesale trade | DELOITTE RESTRUCTURING INC/RESTRUCTURATION DELOITTE INC | $37.0 |
| 2024-05-03 | Clarkson Road Developments GP Inc., Clarkson Road Holdings Inc., and 2813427 Ontario Inc. | Ontario | Construction | PRICEWATERHOUSECOOPERS INC. | $80.7 |
| 2024-05-02 | CANNMART LABS INC. | Ontario | Manufacturing | MSI SPERGEL INC | $46.1 |
| 2024-04-26 | AlphaBow Energy Ltd. | Alberta | Mining, quarrying, and oil and gas extraction | KSV RESTRUCTURING INC. | $312.4 |
| 2024-04-24 | Ted Baker Canada Inc. | Ontario | Retail trade | ALVAREZ & MARSAL CANADA INC. | $52.8 |
| 2024-04-25 | Teal-Jones Group | British Columbia | Agriculture, forestry, fishing and hunting | PRICEWATERHOUSECOOPERS INC. | $476.8 |
| 2024-04-09 | Antibe Therapeutics Inc. | Ontario | Professional, scientific and technical services | DELOITTE RESTRUCTURING INC/RESTRUCTURATION DELOITTE INC | $30.4 |
| 2024-04-05 | TEBO MILL INSTALLATIONS INC., TEBO MILL CONSTRUCTION INC., ALGON HOLDINGS INC., FRASERVIEW FABRICATION AND MACHINING INC., PTOLEMYTECH CONSULTANTS INC. | British Columbia | Construction | CROWE MACKAY & COMPANY LTD | $15.3 |
| 2024-04-02 | Heritage Cannabis Holding Corp. | British Columbia | Wholesale trade | KPMG INC. | $34.9 |
Figure 1: Filings by regionFootnote *
For more information, see Table 10: Total CCAA Proceedings Filed by Province in Insolvency statistics in Canada —Second Quarter 2024.
Figure 2: Filings by NAICS economic sectorFootnote *
| Company Name | Sector | Monitor | Outcome | Duration of proceeding (days) | Liabilities (millions) |
|---|---|---|---|---|---|
| 1000488910 Ontario Inc., Springer Aerospace Holdings Ltd. and 1138969 Ontario Inc | Transportation and warehousing | MNP LTD / MNP LTÉE | Terminated – no compromise or arrangement sanctioned by the court | 159 | $6.40 |
| Rising Phoenix International Inc., et al. | Educational services | Richter LLP | Terminated – no compromise or arrangement sanctioned by the court. | 504 | $22.90 |
| Scierie Gauthier Ltée | Manufacturing | RAYMOND CHABOT INC. | Terminated – no compromise or arrangement sanctioned by the court. | 99 | $12.70 |
| Superette Inc, Superette Ontario Inc, 2659198 Ontario Inc., 2662133 Ontario Inc., 2662134 Ontario Inc. and 2662135 Ontario Inc. | Professional, scientific and technical services | PricewaterhouseCoopers Inc. | Terminated – no compromise or arrangement sanctioned by the court | 153 | $6.10 |
| Cequence Energy Ltd. | Mining, quarrying, and oil and gas extraction | Ernst & Young Inc | Concluded – compromise or arrangement completed | 170 | $168.30 |
| Rebuts Solides Canadiens Inc. et al. | Administrative and support, waste management and remediation services | PricewaterhouseCoopers Inc. | Concluded – compromise or arrangement completed | 1,506 | $21.00 |
| Fresh City Farms Inc and Mama Earth Organics Inc | Agriculture, forestry, fishing and hunting | PricewaterhouseCoopers Inc. | Terminated – no compromise or arrangement sanctioned by the court | 89 | $15.40 |
| Medifocus Inc. | Professional, scientific and technical services | MSI Spergel Inc. | Terminated – no compromise or arrangement sanctioned by the court | 659 | $15.90 |
|
|||||