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Sections
- Highlights
- Table 1: Total CCAA Proceedings—Domestic
- Table 2: Total CCAA Proceedings Filed by Province
- Table 3: 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.
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
Six Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the third quarter of 2018. Please refer to the CCAA Records List for additional details regarding each filing.
Company Name | Province | Sector | Monitor | Liabilities (in millions) |
---|---|---|---|---|
Aralez Pharmaceuticals Inc. and Aralez Pharmaceuticals Canada Inc | ON | Manufacturing | Richter Advisory Group Inc. | $487 |
Great Slave Helicopters Ltd. | ON | Transportation and warehousing | KSV Kofman Inc. | $266 |
Groupe SM/SM Group | QC | Professional, scientific and technical services | Deloitte Restructuring Inc. | $119 |
Kraus Brands Inc. | ON | Manufacturing | Deloitte Restructuring Inc. | $180 |
Ranch Energy Corporation, OpsMobil Inc., 173163 Alberta Inc., 1859821 Alberta Inc., Air Dallaire Ltd., OpsMobil Group Inc., OpsMobil Construction Inc.,OpsMobil Energy Services Inc., K.L. Capital Corp. | AB | Mining, quarrying, and oil and gas extraction | Ernst and Young Inc. | $171 |
Rivairo Capital Corporation | AB | Construction | The Bowra Group Inc. | $11 |
Figure 1: Filings by regionFootnote*
For more information, see Table 2: Total CCAA Proceedings Filed by Province
Figure 2: Filings by NAICS economic sector
For more information, see Table 3: CCAA Proceedings Filed by NAICS Economic Sector, Canada
Company Name | Sector | Monitor | Outcome | Duration of the Proceedings (in days) | Liabilities (in millions) |
---|---|---|---|---|---|
Kitco Metals Inc. | Mining, quarrying, and oil and gas extraction | Richter Advisory Group Inc. | Concluded – compromise or arrangement completed | 2555 | $88 |
TELoIP Inc. | Administrative and support, waste management and remediation services | Pricewaterhouse Coopers | Concluded – compromise or arrangement completed | 57 | $33 |
- Footnote *
-
Some files may have been closed before the beginning of the quarter. For exact closing dates, please refer to the CCAA Records List.
Type | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q3 2018 | Q2 2018 | Q3 2017 | Q2 2018 – Q3 2018 | Q3 2017 – Q3 2018 | 09-30-2018 | 09-30-2017 | +/ Change | |
Total Domestic Proceedings FiledFootnote1 | 6 | 4 | 3 | 2 | 3 | 26 | 21 | 5 |
Filing Affiliates | 33 | 5 | 9 | 28 | 24 | 77 | 369 | -292 |
Filed by Publicly-Traded Companies | 1 | 0 | 0 | 1 | 1 | 1 | 5 | -4 |
Filed by Privately-Held Companies | 5 | 4 | 3 | 1 | 2 | 25 | 16 | 9 |
Total Liabilities - Book Value Footnote2,Footnote 3 | $1.236B | $.0916B | $.6119B | $1.145B | $.6248B | $5.751B | $4.148B | $1.602B |
% of Secured Liabilities | 49.46% | 63.16% | 69.77% | n/a | n/a | 35.08% | 46.59% | n/a |
% of Unsecured Liabilities | 50.54% | 36.84% | 30.23% | n/a | n/a | 64.92% | 53.41% | n/a |
Total Assets - Book Value | $.9496B | $.0994B | $.6726B | $.8502B | $.2769B | $5.381B | $4.429B | $.9518B |
Volume | +/- Change | 12-Month Period Ending | ||||||
---|---|---|---|---|---|---|---|---|
Q3 2018 | Q2 2018 | Q3 2017 | Q2 2018 – Q3 2018 | Q3 2017 – Q3 2018 | 09-30-2018 | 09-30-2017 | +/- Change | |
Newfoundland and Labrador | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Prince Edward Island | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nova Scotia | 0 | 1 | 0 | -1 | 0 | 2 | 0 | 2 |
New Brunswick | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Quebec | 1 | 1 | 0 | 0 | 1 | 8 | 5 | 3 |
Ontario | 3 | 1 | 2 | 2 | 1 | 8 | 11 | -3 |
Manitoba | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Saskatchewan | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Alberta | 2 | 0 | 1 | 2 | 1 | 3 | 3 | 0 |
British Columbia | 0 | 1 | 0 | -1 | 0 | 3 | 2 | 1 |
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 | 6 | 4 | 3 | 2 | 3 | 26 | 21 | 5 |
Sector | Volume | +/ Change | 12-Month Period Ending | |||||
---|---|---|---|---|---|---|---|---|
Q3 2018 | Q2 2018 | Q3 2017 | Q2 2018 – Q3 2018 | Q3 2017 – Q3 2018 | 09-30-2018 | 09-30-2017 | +/ Change | |
Agriculture, Forestry, Fishing and Hunting | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Mining and Oil and Gas Extraction | 1 | 1 | 0 | 0 | 1 | 4 | 1 | 3 |
Utilities | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Construction | 1 | 0 | 0 | 1 | 1 | 3 | 3 | 0 |
Manufacturing | 2 | 1 | 0 | 1 | 2 | 4 | 2 | 2 |
Wholesale Trade | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Retail Trade | 0 | 1 | 1 | -1 | -1 | 4 | 3 | 1 |
Transportation and Warehousing | 1 | 0 | 0 | 1 | 1 | 3 | 1 | 2 |
Information and Cultural Industries | 0 | 0 | 0 | 0 | 0 | 0 | 2 | -2 |
Finance and Insurance | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Real Estate, Rental and Leasing | 0 | 0 | 0 | 0 | 0 | 0 | 3 | -3 |
Professional, Scientific and Technical Services | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 1 |
Management of Companies and Enterprises | 0 | 0 | 0 | 0 | 0 | 3 | 1 | 2 |
Administrative and Support, Waste Management and Remediation Services | 0 | 1 | 0 | -1 | 0 | 1 | 0 | 1 |
Educational Services | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Health Care and Social Assistance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Arts, Entertainment and Recreation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accommodation and Food Services | 0 | 0 | 1 | 0 | -1 | 1 | 1 | 0 |
Other Services (except Public Administration) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Public Administration | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Canada | 6 | 4 | 3 | 2 | 3 | 26 | 18 | 8 |