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Sections
- Highlights
- Table 1: Total CCAA Proceedings—Domestic
- Table 2: Total CCAA Proceedings—Cross-Border
- Table 3: Total CCAA Proceedings Filed by Province
- Table 4: CCAA Proceedings Filed by NAICS Economic Sector, Canada
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.
Cross-Border Proceedings: When a proceeding is filed in a foreign jurisdiction where the debtor company has the centre of its main interests, it is referred to as a foreign main proceeding. Proceedings brought before any other court would generally be referred to as foreign non-main proceedings.
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
Ten Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the fourth quarter of 2016. Please refer to the CCAA Records List for additional details regarding each filing.
Company Name | Province | Sector | Monitor | Liabilities (in millions) |
---|---|---|---|---|
Corporation Mount Real | Quebec | Management of companies and enterprises | Raymond Chabot Inc. | $9 |
Parkland Airport Development Corporation | Alberta | Transportation and warehousing | Deloitte Restructuring Inc. | $11 |
Performance Sports Group Ltd. | Ontario | Manufacturing | Ernst & Young Inc. | $687 |
Rubicon Minerals Corporation | Ontario | Mining, quarrying, and oil and gas extraction | Ernst & Young Inc. | $192 |
SunEdison Canadian Construction LP | Ontario | Construction | Ernst & Young Inc. | $121 |
Sunrise Properties | British Columbia | Real estate and rental and leasing | PricewaterhouseCoopers Inc. | $244 |
Teliphone Navigata-Westel Communication | British Columbia | Information and cultural industries | Boale, Wood & Company Ltd., later substituted with Ernst & Young Inc. | $32 |
Tricon Films & Television | Ontario | Information and cultural industries | KSV Kofman Inc. | $47 |
Urbancorp (Bridlepath) Inc. et al. | Ontario | Construction | KSV Kofman Inc. | $32 |
Urbancorp Cumberland 2 GP Inc. et al. | Ontario | Construction | The Fuller Landau Group Inc. | $49 |
Figure 1: Filings by region*
* East Region includes Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador
Ontario Region includes Ontario
West Region includes British Columbia, Yukon, Alberta, Northwest Territories, Saskatchewan, Manitoba and Nunavut
For more information, see Table 3: Total CCAA Proceedings Filed by Province
Figure 2: Filings by NAICS Economic Sector
For more information, see Table 4: CCAA Proceedings Filed by NAICS Economic Sector, Canada
Company Name | Sector | Monitor | Outcome | Duration (in days) | Liabilities (in millions) |
---|---|---|---|---|---|
Effigi Inc. | Retail trade | Richter Advisory Group Inc. | Taken up under BIA | 1,362 | $71 |
Magnum Mortgage & Realty Corp. | Finance and insurance | BDO Canada Ltd. | Concluded – compromise or arrangement completed | 1,408 | $20 |
Planet Organic Health Corp | Retail trade | Deloitte Restructuring Inc. | Terminated – no compromise or arrangement sanctioned by court | 2,314 | $51 |
Ponderosa Peachland Development LP | Construction | D. Manning & Associates Inc. | Terminated – no compromise or arrangement sanctioned by court | 868 | $80 |
Type | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q4 2016 | Q3 2016 | Q4 2015 | Q3 2016 – Q4 2016 | Q4 2015 – Q4 2016 | 12-31-2016 | 12-31-2015 | +/ Change | |
Total Domestic Proceedings FiledFootnote1 | 10 | 9 | 8 | 1 | 2 | 42 | 40 | 2 |
Filing Affiliates | 182 | 24 | 24 | 158 | 158 | 261 | 81 | 180 |
Filed by Publicly-Traded Companies | 3 | 3 | 2 | 0 | 1 | 11 | 11 | 0 |
Filed by Privately-Held Companies | 7 | 6 | 6 | 1 | 1 | 31 | 29 | 2 |
Total Liabilities—Book Value ($ millions)Footnote2 | $1,423.305 | $3,171.142 | $3,079.926 | -$1,747.837 | -$1,656.621 | $15,717.570 | $20,316.804 | -$4,599.234 |
% of Secured Liabilities | 65.48% | 51.75% | 50.78% | 25.97% | 23.60% | |||
% of Unsecured Liabilities | 34.52% | 48.25% | 49.22% | 74.03% | 76.40% | |||
Total Assets—Book Value ($ millions) | $1,478.489 | $2,455.897 | $3,048.876 | -$977.409 | -$1,570.387 | $12,191.298 | $23,177.778 | -$10,986.480 |
Table 2: Total CCAA Proceedings—Cross-Border
CCAA cross-border proceedings are no longer included in this report.
Province/territory | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q4 2016 | Q3 2016 | Q4 2015 | Q3 2016 – Q4 2016 | Q4 2015 – Q4 2016 | 12-31-2016 | 12-31-2015 | +/ Change | |
Newfoundland and Labrador | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Prince Edward Island | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Nova Scotia | no data | 2 | no data | -2 | no data | 2 | 1 | 1 |
Domestic | no data | 2 | no data | -2 | no data | 2 | 1 | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
New Brunswick | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Quebec | 1 | 1 | 3 | no data | -2 | 6 | 11 | -5 |
Domestic | 1 | 1 | 3 | no data | -2 | 6 | 11 | -5 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Ontario | 6 | 3 | 2 | 3 | 4 | 16 | 12 | 4 |
Domestic | 6 | 3 | 2 | 3 | 4 | 16 | 12 | 4 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Manitoba | no data | no data | no data | no data | no data | 1 | no data | 1 |
Domestic | no data | no data | no data | no data | no data | 1 | no data | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Saskatchewan | no data | no data | no data | no data | no data | 1 | 1 | no data |
Domestic | no data | no data | no data | no data | no data | 1 | 1 | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Alberta | 1 | 3 | 1 | -2 | no data | 14 | 8 | 6 |
Domestic | 1 | 3 | 1 | -2 | no data | 14 | 8 | 6 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
British Columbia | 2 | no data | 2 | 2 | no data | 2 | 6 | -4 |
Domestic | 2 | no data | 2 | 2 | no data | 2 | 6 | -4 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Northwest Territories | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Yukon | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Nunavut | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Canada | 10 | 9 | 8 | 1 | 2 | 42 | 40 | 2 |
Domestic | 10 | 9 | 8 | 1 | 2 | 42 | 40 | 2 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Sector | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q4 2016 | Q3 2016 | Q4 2015 | Q3 2016 – Q4 2016 | Q4 2015 – Q4 2016 | 12-31-2016 | 12-31-2015 | +/ Change | |
Agriculture, Forestry, Fishing and Hunting | no data | 1 | no data | -1 | no data | 1 | 1 | no data |
Domestic | no data | 1 | no data | -1 | no data | 1 | 1 | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Mining and Oil and Gas Extraction | 1 | 3 | 2 | -2 | -1 | 11 | 16 | -5 |
Domestic | 1 | 3 | 2 | -2 | -1 | 11 | 16 | -5 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Utilities | no data | no data | no data | no data | no data | 1 | no data | 1 |
Domestic | no data | no data | no data | no data | no data | 1 | no data | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Construction | 3 | 1 | 1 | 2 | 2 | 8 | 4 | 4 |
Domestic | 3 | 1 | 1 | 2 | 2 | 8 | 4 | 4 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Manufacturing | 1 | 2 | 2 | -1 | -1 | 4 | 5 | -1 |
Domestic | 1 | 2 | 2 | -1 | -1 | 4 | 5 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Wholesale Trade | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Retail Trade | no data | 1 | 1 | -1 | -1 | 5 | 4 | 1 |
Domestic | no data | 1 | 1 | -1 | -1 | 5 | 4 | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Transportation and Warehousing | 1 | no data | no data | 1 | 1 | 2 | 1 | 1 |
Domestic | 1 | no data | no data | 1 | 1 | 2 | 1 | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Information and Cultural Industries | 2 | no data | no data | 2 | 2 | 4 | 1 | 3 |
Domestic | 2 | no data | no data | 2 | 2 | 4 | 1 | 3 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Finance and Insurance | no data | 1 | no data | -1 | no data | 1 | 2 | -1 |
Domestic | no data | 1 | no data | -1 | no data | 1 | 2 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Real Estate, Rental and Leasing | 1 | no data | no data | 1 | 1 | 1 | no data | 1 |
Domestic | 1 | no data | no data | 1 | 1 | 1 | no data | 1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Professional, Scientific and Technical Services | no data | no data | no data | no data | no data | 1 | 1 | no data |
Domestic | no data | no data | no data | no data | no data | 1 | 1 | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Management of Companies and Enterprises | 1 | no data | no data | 1 | 1 | 3 | no data | 3 |
Domestic | 1 | no data | no data | 1 | 1 | 3 | no data | 3 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Administrative and Support, Waste Management and Remediation Services | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Educational Services | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Health Care and Social Assistance | no data | no data | 1 | no data | -1 | no data | 1 | -1 |
Domestic | no data | no data | 1 | no data | -1 | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Arts, Entertainment and Recreation | no data | no data | 1 | no data | -1 | no data | 1 | -1 |
Domestic | no data | no data | 1 | no data | -1 | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Accommodation and Food Services | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Other Services (except Public Administration) | no data | no data | no data | no data | no data | no data | 1 | -1 |
Domestic | no data | no data | no data | no data | no data | no data | 1 | -1 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Public Administration | no data | no data | no data | no data | no data | no data | no data | no data |
Domestic | no data | no data | no data | no data | no data | no data | no data | no data |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |
Canada | 10 | 9 | 8 | 1 | 2 | 42 | 40 | 2 |
Domestic | 10 | 9 | 8 | 1 | 2 | 42 | 40 | 2 |
Cross-Border | no data | no data | no data | no data | no data | no data | no data | no data |