Tag Archives: bankruptcy

Bankruptcies Drop but More Deals with Creditors

Here’s another reason for our clients to remain vigilant in both their credit granting processes as well as their accounts receivable follow-up, including outsourcing problem accounts to Case Receivable Management Inc. Let’s start with the good news. Less Canadians are filing for bankruptcies. Yay! Now for the bad news, more are asking for help with […]

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Bankruptcy and Insolvency Act offences — types, detection, penalties

The Canadian bankruptcy regime was designed with two key purposes in mind – provide options to ‘honest but unfortunate’ debtors struggling with an unmanageable financial load and create an orderly means for creditors to recover amounts owed them. With the potential for abuse ever present, the Office of the Superintendent of Bankruptcy (OSB) has ways […]

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Top Eight Signs Your Client May Be In Financial Difficulty

This post is written to help those looking in from the outside (bankers, lawyers, accountants, insurance agents etc.) spot when a client of yours may be experiencing financial difficulty and might need the help of insolvency professionals like us. ?Assessing whether your client is experiencing financial distress does not require access to detailed financial information, […]

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Focusing on the practical versus the sexy

While our provincial and federal government intelligentsia continue to focus their legislative efforts on critically important activities (I say this purely in jest) such as new environmental regulation, carbon taxes and carbon levies in an attempt to reduce Canada’s current whopping 1.6% share of total global GHG (greenhouse gas) emissions Albertan’s and many Canadian’s for […]

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AB Consumers Continue to Hemorrhage

The rate of consumer insolvencies rose in Alberta in the second quarter of this year by 43 per cent compared to last year, according to a report released by the Superintendent of Bankruptcy Canada at the end of August. Personal bankruptcies increased by 32.4 per cent in Alberta, while consumer proposal filings — a formal […]

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Alberta Bankruptcies: Storm is a Brewin’

As we reported exactly 13 months ago back in May 2015 when we pontificated that we potentially arrived at an inflection point, the end of the old trend and the beginning of a new trend, for the number of Albertans beginning to experience a higher degree of trouble in paying their debt obligations, recent numbers […]

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AB Bankruptcies – the trend is your friend except at the end

The latest numbers from the Office of the Superintendent of Bankruptcies (OSB) for June 2015 indicate that business and consumer bankruptcies increased 433.3% and 19.5% respectively in comparison to June of 2014. Although these numbers are a single data point and one month does not make a trend we thought it still an important data […]

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Alberta Bankruptcies: At an inflection point?

According to the latest release from the Office of the Superintendent of Bankruptcies (OSB) personal bankruptcies in Alberta increased 20% in February versus the previous month and were 10% higher versus February 2014. Nationally, consumer bankruptcies were up by 10% month over month. Unfortunately for Alberta, given the current economic backdrop, we are most likely […]

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Personal bankruptcies falling in Canada; so what

The Office of the Superintendent of Bankruptcy (OSB) recently reported that nationally bankruptcies in April 2014 fell by 8.8% compared to a year earlier.  While Alberta filings fell by 20.9% New Brunswick realized an increase of 48.5%.  Although touted as good news by the OSB via mainstream media one must recognize that comparing a one […]

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Lipstick on a Pig – Declining Bankruptcies

The Alberta Treasury Branch (ATB) earlier this month penned with glee that personal bankruptcies in Alberta are at its lowest point in nearly a quarter of a century (that sounds like a far longer time than 25 years).  The ATB opines that “the steadily falling rate of bankruptcies can be attributed to a strong economy, […]

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