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The Office of the Superintendent of Bankruptcy Canada has released bankruptcy data for the first quarter of 2011.  bankruptcies continue to trend lower than the recession peak, and closer to pre-recession levels.

Here’s a long term graph of consumer bankruptcy data, from 1991 forward.

Since the beginning of 2007 (approximately pre-recession), you can see the leveling off in the short term chart.

In terms of actual numbers, here’s the comparison between the first quarter of 2011 and the first quarter of 2010.

Comparing bankruptcies and proposals (for consumers), the number of proposals for March (4,458) was the highest in the period I have data for (since January 2007).

For businesses, that same trend is not evident even though there was an up tick in both bankruptcies and proposals in March (bankruptcies up from 287 in February 2011 to 399 in March and proposals up from 81 to 169).

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The Office of the Superintendent of Bankruptcy Canada has released its insolvency statistics for January 2011. The number of consumer insolvencies for January 2011 (5,864) was the lowest since December 2007 (when there were 5,192) and the lowest figure for the month of January since January 2000 (when there were 5,451).

Here’s the long term graph for consumer insolvencies (aka personal bankruptcies) going back to the beginning of 1991:

A closer view looking just since the period immediately preceding the recession:

For the same period (January 2007 to present) the decrease is bankruptcies is not matched by a decrease in proposals (the number of proposals actually increased from the prior month from 3,219 to 3,342).

The implications of this? I’m not sure if there’s any data on what proportion of proposals eventually end up as bankruptcies, but the increasing number of proposals seems to mitigate some of the gain from the decrease in actual bankruptcies.

For businesses the trend continues to be a bit different, with proposals decreasing along with bankruptcies, though decreasing at a much lesser rate.

Related to the last post regarding bankruptcy data released by the Office of The Superintendent of Bankruptcy Canada, for the last three calendar years (January 2007 through December 2010) I’ve taken the data for both consumer and business insolvencies as well as for proposals.

The definition of Proposal from the OSBC website:

An offer to creditors to settle debts under conditions other than the existing terms. It is a formal agreement under the Bankruptcy and Insolvency Act.

First the consumer insolvencies and proposals.

Interesting to note that while actual insolvencies have been declining, proposals have not been and in fact show an opposite trend.

Now business insolvencies and proposals.

Business insolvencies peaked earlier, though the last couple of months have moved up significantly (which was not the case in November and December of 2009), even though business proposals have been flat.

The Office of the Superintendent of Bankruptcy Canada has released the figures for October 2010 for consumer insolvencies. In October there were  7,844 insolvencies.

The figures continue to be below the peak numbers of 2009 and October is the second month in a row that the bankruptcy numbers have been lower than the numbers for 2008, though they’re still higher than the numbers for 2007.

Here’s the long term chart with data from 1991 onwards.

And another chart showing the data just previous to the current recession to the present.

So while the numbers have been going down, they still remain above pre-recession levels. The figures continue to be below the peak numbers of 2009 and October is the second month in a row that the bankruptcy numbers have been lower than the numbers for 2008, though they’re still higher than the numbers for 2007.

The numbers in Canada have at least been declining unlike in the United States where the personal bankruptcy figures for 2010 exceeded those of 2009. Note that, however, all the figures for 2010 are not yet available for Canada.

Today the Office of the Superintendent of Bankruptcy Canada released the figures for September 2010 (later than usual since it’s part of the quarterly report). Consumer insolvencies for September were 7,822.

Here’s a table showing the most recent figures compared to the preceding three years.

And a graph showing the same data – essentially the period immediately preceding the recession to present.

The overall pattern is one with bankruptcies off the peak but still somewhat elevated. Here’s the long term graph with the data going back to January 1991.

The Office of the Superintendent of Bankruptcy Canada released the insolvency statistics for August. You can see in the table that the numbers are significantly lower than the prior year.

The numbers seem to have come down to approximately what was the norm prior to the recession (at least the last couple months numbers have). Here’s the long term chart.

A couple of months isn’t that much and it’s still more towards the high side of the longer trend. A look at a shorter term chart shows this a bit better.