Page 4 - Restructuring Professionals News Today

The Office of the Superintendent of Bankruptcy says both consumer and business insolvencies rose significantly in the second quarter amid heightened interest rates.

The Office of the Superintendent of Bankruptcy says both consumer and business insolvencies rose significantly in the second quarter amid heightened interest rates.

There were over 1,000 commercial bankruptcies and proposals in Canada in the second quarter, and high inflation may be to blame

There were 31,224 consumer insolvencies in the April to June period, up 23.5% compared with the same period last year

There were 31,224 consumer insolvencies in the April to June period, up 23.5% compared with the same period last year

One third report that they dont make enough to cover their bills, the highest recorded proportion since the Index’s inception 5 years ago.

One third report that they dont make enough to cover their bills, the highest recorded proportion since the Index’s inception 5 years ago.

Critics say Cactus Debt Relief uses aggressive techniques to recruit clients just to hand them off to trustees. Its founder says his firm provides a worthwhile product to struggling people.

Private members bill awaits royal assent to become law

The number of insolvent Canadians skyrocketed by 33 percent on a year-over-year basis in January 2023, according to ...