Tag: bankruptcy

A Deeper Dive on Business Bankruptcies/Proposals

Our intent is not to fear monger or spread doom and gloom. We’re not economists. Nor do we consider ourselves thought leaders by any stretch of the imagination however, our purpose is to hopefully provide some additional considerations for those who are interested in gaining the best possible understanding of our world beyond the headlines….

read more

Worry = Higher Interest Rates + Covering Monthly Bills

According to a recent Ipsos poll conducted by MNP LTD., Canadians are increasingly worried about their ability to repay their debts. Since interest rates first rose in July, households across the country have noticed their budgets tightening as they struggle to keep up with expenses and manage other rising costs. Jumping eight percent since September,…

read more

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…

read more

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…

read more

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,…

read more

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…

read more

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…

read more

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…

read more

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…

read more

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…

read more