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Sections
- Highlights
- Table 1: Total CCAA ProceedingsDomestic
- 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
Fifteen Companies' Creditors Arrangement Act (CCAA) proceedings were filed with the OSB in the fourth quarter of 2019. Please refer to the CCAA Records List for additional details regarding each filing.
Company Name | Province | Sector | Monitor | Liabilities
(in millions) |
---|---|---|---|---|
Bellatrix Exploration Ltd. | Alberta | Mining, Quarrying and Oil and Gas Extraction | PricewaterhouseCoopers Inc. | $545.2 |
Del Equipment Inc. | Ontario | Manufacturing | MNP Ltd. | $26.2 |
North American Fur Auctions Inc., North American Fur Producers Inc., NAFA Properties Inc., NAFA Properties (US) Inc., 3306319 Nova Scotia Limited, NAFA Properties Stoughton LLC, North American Fur Auctions (US) Inc., NAFPRO LLC (Wisconsin LLC), NAFA Europe Co-Operatief UA, NAFA Europe B.V., Daikoku SP.Z OO, and NAFA Polska SP.Z OO | Ontario | Agriculture, forestry, fishing and hunting | Deloitte Restructuring Inc. | $111.3 |
3834310 Canada Inc. and Le Groupe Capitales Médias Inc. | Quebec | Information and cultural industries | PricewaterhouseCoopers Inc. | $39.2 |
9227-1584 Québec Inc. and 9336-9262 Québec Inc. | Quebec | Construction | KPMG Inc. | $17.8 |
Accel Canada Holdings Limited and Accel Energy Canada limited | Alberta | Mining, Quarrying and Oil and Gas Extraction | PricewaterhouseCoopers Inc. | $668.7 |
Wayland Group Corp., Maricann Inc. and Nanoleaf Technologies Inc. | Ontario | Manufacturing | PricewaterhouseCoopers Inc. | $45.7 |
Clover Leaf Holdings Company, Connors Bros. Clover Leaf Seafoods Company, K.C.R. Fisheries Ltd., 6162410 Canada Limited, Connors Bros. Holdings Company and Connors Bros. Seafoods Company | Ontario | Agriculture, forestry, fishing and hunting | Alvarez & Marsal Canada Inc. | $398.4 |
Tli Cho Landtran Transport Ltd., 1456998 Alberta Ltd., 1456982 Alberta Ltd. and Ventures West Limited Partnership | Alberta | Transportation and warehousing | MNP Ltd. | $55.7 |
9348069 Canada Inc., 4295862 Canada Inc., Motovan Corporation, Moncy Holding Company Inc., Moncy Financial Services Company Inc., Nichols Motorcycle Supply Inc., Moncy LLC and Motorcycle Tires & Accessories LLC | Quebec | Wholesale Trade | KPMG Inc. | $104.3 |
AgMedica Bioscience Inc., 2472602 Ontario Inc., 2642466 Ontario Inc., 8895309 Canada Inc., Wellworth Health Corp., 8050678 Canada Inc., 8326851 Canada Inc., Tavivat Naturals Inc., Worldwide Beverage Innovations Inc., Unique Beverages (USA) Inc., and Eseela Inc. | Ontario | Agriculture, forestry, fishing and hunting | Ernst & Young Inc. | $65.7 |
1112-1124 Capital Corp., 20/20 Capital Corp., 411 Ltd., 534 Capital Corp., 550 Capital Corp., 744 (2011) Capital Corp., 808 Capital Corp., 926 Capital Corp., Airdrie Gateway Block 2 Capital Corp., Airways Business Plaza Capital Corp., Aura Capital Corp., Avenida Village Ltd., Blackfoot Centre Ltd., Bonavista Square Ltd., Center Street GP Ltd., Centre 1000 Capital Corp., Centre Eleven Capital Corp., Centro 2102 Capital Corp., Deerfoot 17 Corp., Deerfoot Court (2011) Capital Corp., First Street Plaza GP Ltd., Glenmore Commerce Court Capital Corp., Inglewood 9th Avenue GP Ltd., Kensington Building Capital Corp., Louise Block Capital Corp., Macleod Place Ltd., Mayfield Capital Corp., Mission Centre Inc., Airdrie Creekside Capital Corp., Torode Strategic 1129 GP Ltd., One Six Capital Corp., Parallel Centre Ltd., Paramount Building Ltd., Parkwood/Eastgate Capital Corp., Pegasus Business Park Ltd., Stony Plain Capital Corp., Petro Fina Capital Corp., Petro West Ltd., Place 9-6 Ltd., Shelbourne Place Ltd., Stella Place Capital Corp., Strategic Centre Ltd., Sundance Place Ltd., Sundance Place II Ltd., Sunpark Place Ltd., Airdrie Gateway Block 3 Capital Corp., Wesley Church Building Inc., Willow Park Capital Corp., 411 Capital Corp., 1445122 Alberta Ltd., 1220 Kensington Road Corp., Macleod Place Holding Corp. | Alberta | Real estate and rental and leasing | Hardie & Kelly Inc. | $849.4 |
Fortress Global Enterprises Inc., Fortress Specialty Cellulose Inc., Fortress Bioenergy Ltd., Fortress Xylitol Inc. and 9217-6536 Québec Inc. | Quebec | Manufacturing | Deloitte Restructuring Inc. | $280.7 |
Nemaska Lithium Inc., Nemaska Lithium P1P Inc., Nemaska Lithium Shawinigan Transformation Inc., Nemaska Lithium Innovation Inc., Nemaska Lithium Whabouchi Mine Inc. | Quebec | Mining, Quarrying and Oil and Gas Extraction | PricewaterhouseCoopers Inc. | $208.3 |
Lydian International Limited, Lydian Canada Ventures Corporation and Lydian U.K. Corporation Limited | Ontario | Mining, Quarrying and Oil and Gas Extraction | Alvarez & Marsal Canada Inc. | $395.3 |
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 Proceeding (in days) | Liabilities (in millions) |
---|---|---|---|---|---|
Edgeworth Properties Inc. | Real Restate and Rental and Leasing | Grant Thornton Limited | Terminated – no compromise or arrangement sanctioned by court | 2,265 | $199 |
Mady Collier Centre Ltd. | Construction | Grant Thornton Limited | Terminated – no compromise or arrangement sanctioned by court | 503 | $58 |
Homerun Capital Corp. et al. | Construction | Hardie & Kelly Inc. | Taken up under BIA | 860 | $32 |
Index Energy Mills Road Corporation | Mining, Quarrying and Oil and Gas Extraction | Grant Thornton Limited | Terminated – no compromise or arrangement sanctioned by court | 208 | $156 |
Liberty Crossing General Partner Inc. | Construction | Ernst & Young Inc. | Concluded - compromise or arrangement completed | 623 | $262 |
Anterra Energy Inc. | Mining, Quarrying and Oil and Gas Extraction | PricewaterhouseCoopers Inc. | Taken up under BIA | 1,286 | $51 |
Toys "R" US (Canada) Ltd. | Retail Trade | Grant Thornton Limited | Terminated – no compromise or arrangement sanctioned by court | 254 | $380 |
- Footnote *
-
Some files may have been closed before the beginning of the quarter. For exact closing dates, please refer to the CCAA Records List.
Volume | +/- Change | 12-Month Period Ending | ||||||
---|---|---|---|---|---|---|---|---|
Q4 2019 | Q3 2019 | Q4 2018 | Q3 2019 –
Q4 2019 |
Q4 2018 –
Q4 2019 |
12-31-2019 | 12-31-2018 | +/- Change | |
Total Domestic Proceedings FiledFootnote1 | 15 | 6 | 6 | 9 | 9 | 38 | 20 | 18 |
Filing Affiliates
|
106 | 40 | 20 | 66 | 86 | 323 | 69 | 254 |
Filed by Publicly-Traded Companies
|
5 | 2 | 0 | 3 | 5 | 11 | 1 | 10 |
Filed by Privately-Traded Companies
|
10 | 4 | 6 | 6 | 4 | 27 | 19 | 8 |
Total Liabilities — Book Value ($ millions)Footnote2 | $3,811.814 | $1,104.823 | $200.879 | $2,706.990 | $3,610.934 | $9,157.598 | $5,219.151 | $3,938.447 |
% of Secured Liabilities
|
75.62% | 64.46% | 48.10% | n/a | n/a | 56.95% | 28.61% | n/a |
% of Unsecured Liabilities
|
24.38% | 35.54% | 51.90% | n/a | n/a | 43.05% | 71.39% | n/a |
Total Assets — Book Value ($ millions) | $8,775.944 | $1,053.191 | $175.103 | $7,722.753 | $8,600.841 | $21,418.147 | $4,687.857 | $16,730.290 |
Volume | +/- Change | 12-Month Period Ending | ||||||
---|---|---|---|---|---|---|---|---|
Q4 2019 | Q3 2019 | Q4 2018 | Q3 2019 – Q4 2019 | Q4 2018 – Q4 2019 | 12-31-2019 | 12-31-2018 | +/- Change | |
Newfoundland and Labrador | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Prince Edward Island | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nova Scotia | 0 | 0 | 1 | 0 | -1 | 1 | 2 | -1 |
New Brunswick | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quebec | 5 | 1 | 2 | 4 | 3 | 9 | 5 | 4 |
Ontario | 6 | 2 | 1 | 4 | 5 | 15 | 8 | 7 |
Manitoba | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Saskatchewan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Alberta | 4 | 0 | 0 | 4 | 4 | 7 | 2 | 5 |
British Columbia | 0 | 3 | 2 | -3 | -2 | 5 | 3 | 2 |
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 | 15 | 6 | 6 | 9 | 9 | 38 | 20 | 18 |
Volume | +/- Change | 12-Month Period Ending | ||||||
---|---|---|---|---|---|---|---|---|
Q4 2019 | Q3 2019 | Q4 2018 | Q3 2019 – Q4 2019 | Q4 2018 – Q4 2019 | 12-31-2019 | 12-31-2018 | +/- Change | |
Agriculture, Forestry, Fishing and Hunting | 3 | 1 | 1 | 2 | 2 | 4 | 1 | 3 |
Mining, Quarrying and Oil and Gas Extraction | 4 | 3 | 0 | 1 | 4 | 11 | 3 | 8 |
Utilities | 0 | 0 | 1 | 0 | -1 | 0 | 1 | -1 |
Construction | 1 | 0 | 1 | 1 | 0 | 2 | 3 | -1 |
Manufacturing | 3 | 0 | 0 | 3 | 3 | 7 | 3 | 4 |
Wholesale Trade | 1 | 1 | 0 | 0 | 1 | 5 | 0 | 5 |
Retail Trade | 0 | 1 | 1 | -1 | -1 | 2 | 2 | 0 |
Transportation and Warehousing | 1 | 0 | 1 | 1 | 0 | 2 | 3 | -1 |
Information and Cultural Industries | 1 | 0 | 0 | 1 | 1 | 2 | 0 | 2 |
Finance and Insurance | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
Real Estate, Rental and Leasing | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 1 |
Professional, Scientific and Technical Services | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
Management of Companies and Enterprises | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Administrative and Support, Waste Management and Remediation Services | 0 | 0 | 1 | 0 | -1 | 0 | 2 | -2 |
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 | 0 | 0 | 0 | 0 | 1 | -1 |
Other Services (except Public Administration) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Public Administration | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Canada | 15 | 6 | 6 | 9 | 9 | 38 | 20 | 18 |