Bankruptcies, whether personal or corporate, are unfortunate reminders that individuals and corporations may be unable to pay their debts when due. In Canada, bankruptcy and insolvency legislation is a federal responsibility, and the Superintendent of Bankruptcy reports monthly on corporate and individual bankruptcies.

We follow bankruptcy trends since significant increases in bankruptcy numbers usually signal that economic conditions are sub-optimal, that is, the economy is not generating enough revenue or economic opportunity through job growth, to sustain debt levels. In Canada and Alberta consumer debt levels have been rising dramatically over the past decade while bankruptcy numbers have not, yet, risen to levels seen during other recessions. This situation is partly due to historically low interest rates that have encouraged the build up of mainly consumer debt, including mortgage debt.

Connacher denied bid to restructure in Canada Bloomberg15-4-15 CH

Complaints on the rise as oil and gas companies lease rents fall behind22-2-16 EJ

Companies struggle to sell their assets13-4-16 EJ

Credit card balances pile up-10-3-16 GM

Harvest Energy Debt15-3-16 EJ

Looking for big machinery29-4-16 EJ

Capitalizing on Alberta’s troubles5-3-16 GM

Consumer debt skyrockets in Edmonton10-3-16

Oil sands firms teeter17-5-16 EJ

PetroWest lenders offer flexibility29-12-15 EJ

Overdue consumer loan debt soaring in Alberta18-5-16 EJ

Canadian subprime debt accelerating18-5-16 GM

Sanjel sale seen as beneficial for fracking6-4-16 EJ

Miserable market causes buyer to close Sanjel head office19-5-16 EJ

Network owner granted creditor protection28-5-16 EJ

Pipeline companies threaten liens27-3-16 GM

Pennwest scrambles to ease debt terms16-6-16 GM

PennWest’s woes: the debt drama by the numbers16-5-16 GM

Decision leaves AER to clean up idle wells21-5-16 EJ

Redwater court decision sides with lenders21-5-16 GM

Repo on rise24-12-15 EJ

Ritchie Brothers auction attracts international interest5-3-16 GM

Ritchie Brothers tallies $240 million 3-5-16 EJ

Sanjel breakup a desperate measure6-4-16 GM

Sanjel faces $1 billion shortfall on asset sale15-4-16 GM

Sanjel owes more than $890 million7-4-16 GM

Unsecured creditors unlikely to collect on Sanjel liquidation15-4-16 EJ

Unsecured creditors of Sanjel13-4-16 EJ

RedWater Ruling Provokes Debate Over Orphan Well Costs Daily Oil Bulletin 3-6-16

Court ruling could have far reaching implications2-6-16 CH