Bankruptcies down in October, government overseer says
Posted January 11, 2012 10:15 am.
This article is more than 5 years old.
OTTAWA – A government oversight agency said fewer individuals and businesses went bankrupt last October, compared with both the previous month and October of 2010.
The Office of the Superintendent of Bankruptcy said the total number of insolvencies in October, including both bankruptcies and proposals, fell by 3.8 per cent from September.
Bankruptcies decreased by 3.7 per cent and proposals fell by four per cent.
The total number of insolvencies in October was 12.8 per cent lower than the total in the same month of 2010.
Individual bankruptcies were down 12.9 per cent from October 2010, while business insolvencies decreased by 9.4 per cent.
For the 12-month period ending October 31, 2011, the total number of insolvencies decreased by 8.2 per cent compared with the 12-month period ending October 31, 2010.
