{"id":5298,"date":"2016-03-08T00:00:00","date_gmt":"2016-03-08T05:00:00","guid":{"rendered":"https:\/\/dev-ginsberg-gingras.flywheelsites.com\/for-the-sixth-year-in-a-row-fewer-people-become-insolvent-in-ontario\/"},"modified":"2021-04-13T18:16:18","modified_gmt":"2021-04-13T22:16:18","slug":"for-the-sixth-year-in-a-row-fewer-people-become-insolvent-in-ontario","status":"publish","type":"post","link":"https:\/\/ginsberg-gingras.com\/en\/for-the-sixth-year-in-a-row-fewer-people-become-insolvent-in-ontario\/","title":{"rendered":"For the sixth year in a row, fewer people become insolvent in Ontario"},"content":{"rendered":"

Press release
\nFor immediate release<\/h4>\n

For the sixth year in a row, fewer people become insolvent in Ontario<\/h1>\n

Ginsberg Gingras is available to comment on statistics from the Office of the Superintendent of Bankruptcy Canada for the fourth quarter of 2015.<\/h2>\n

Ottawa, March 9, 2016 \u2013<\/strong> For the sixth year in a row, Ontario saw a reduction in insolvency files in 2015.<\/p>\n

According to the fourth quarter report published by the Office of the Superintendent of Bankruptcy Canada (OSB), 41,076\u00a0consumers and companies went bankrupt or filed a proposal to creditors in 2015. The number has been dropping annually since 2009\u2014a record year for insolvency, with 69,494 cases.<\/p>\n

The OSB report also indicates that, in 2015, more Ontario consumers chose to restructure their debts through a proposal to their creditors than through bankruptcy. In total, 21,977\u00a0individuals chose the first option. This represents 55% of all consumer insolvency files.<\/p>\n

\u201cThis is the second year in a row that more proposals than bankruptcies were filed,\u201d commented Pascal Gagnon, Ginsberg Gingras vice-president. \u201cSince the proposal allows individuals to protect their assets and in most cases avoids the seizure of property, recourse to this option is increasingly used in Ontario,\u201d he continued.<\/p>\n

In Ottawa, even if there were more bankruptcies than proposals, the same tendency was still observed at the provincial level. In 2015, consumer proposals (1671\u00a0cases) increased by 5.2%, while bankruptcies (2097\u00a0cases) dropped by\u00a06.3%.<\/p>\n

Pascal Gagnon is available to comment on OSB statistics.<\/p>\n

###<\/p>\n

About Ginsberg Gingras<\/h3>\n

Founded in 1980, Ginsberg Gingras is one of the largest licensed insolvency trustees in Qu\u00e9bec and Eastern Ontario in terms of the volume of files processed each year. Ginsberg Gingras helps individuals and companies in debt by providing solutions adapted to their needs. The firm has more than 125\u00a0employees and comprises a major network, including eight\u00a0main offices and thirty\u00a0secondary offices, two of which are in Ottawa, and four in Eastern Ontario.<\/p>\n

For further information:<\/strong><\/p>\n

Mr. Pascal Gagnon, CPA, CGA, CIRP, LIT
\n1\u00a0800\u00a0567-1905 extension 2101
\npgagnon@ginsberg-gingras.com<\/p>\n","protected":false},"excerpt":{"rendered":"

Press release For immediate release For the sixth year in a row, fewer people become insolvent in Ontario Ginsberg Gingras is available to comment on statistics from the Office of the Superintendent of Bankruptcy Canada for the fourth quarter of 2015. Ottawa, March 9, 2016 \u2013 For the sixth year in a row, Ontario saw […]<\/p>\n","protected":false},"author":38,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[671,670],"tags":[],"class_list":["post-5298","post","type-post","status-publish","format-standard","hentry","category-news","category-press-relases"],"acf":[],"yoast_head":"\nFor the sixth year in a row, fewer people become insolvent in Ontario | Ginsberg Gingras<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ginsberg-gingras.com\/en\/for-the-sixth-year-in-a-row-fewer-people-become-insolvent-in-ontario\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"For the sixth year in a row, fewer people become insolvent in Ontario\" \/>\n<meta property=\"og:description\" content=\"Press release For immediate release For the sixth year in a row, fewer people become insolvent in Ontario Ginsberg Gingras is available to comment on statistics from the Office of the Superintendent of Bankruptcy Canada for the fourth quarter of 2015. 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