Finance committee  Yes, I guess.

Finance committee  Yes, it's hard to isolate how that breaks out based on the data that I have today. Again, I feel like our forms might not be the perfect tool to give a great answer on that question, unfortunately.

Finance committee  Yes, we could look at that.

Finance committee  It would be a policy question, I think, on the solutions for that problem, but certainly you are not wrong that the majority of businesses.... We looked at the birth and death rates of businesses, and it's approximately 3% of corporations that actually file a formal insolvency pr

Finance committee  I certainly will if we have it. The only question is whether we collect that, but I will get back to you on that.

Finance committee  I can only tell you what I've heard anecdotally. Again, we don't have data on files that we haven't received. Anecdotally, we're hearing that creditors are forbearing and being reasonable on both the consumer side and the business side. I think the fact is that everybody realizes

Finance committee  It is possible, yes. We'll see. You never know. If we have a recession again, it is quite possible it could happen.

Finance committee  First, thank you very much for your kind words. I truly appreciate those. We do ask for the reason for insolvency. I will say with a bit of a caveat, however, that our forms are not perfect. That is an open text field, so I have some very talented people in my office who have to

Finance committee  Thank you for the question. I don't think the courts are really a factor. As a first step, insolvency cases in Canada are sent electronically to my office. For more serious cases involving the Companies' Creditors Arrangement Act, the process starts off in court. As I said, the

Finance committee  We are watching the numbers very closely. So far, they are continuing to drop considerably.

Finance committee  I believe the government benefits are at play here. They are causing a bit of a hiatus. If the unemployment rate continues to rise, the number of bankruptcies is going to rise, that's for sure.

Finance committee  I reached out to some of my international colleagues very early on to talk about the trends they were seeing and the best practices in dealing with COVID-19 and beyond. I don't have actual stats, but, to a country that participated in my call, everybody was experiencing a signifi

Finance committee  As far as I know, yes. We didn't delve into the details of why.

Finance committee  On the policy side, that would be largely the responsibility of my colleagues at ISED, but my office has been tracking the legislative changes that have been occurring in some countries. I should note that most countries have slight variations in their insolvency systems, so it's

Finance committee  It seems to be, based on what we see from debtor behaviour, that a lot debtors try to do everything they possibly can before they decide to file for an insolvency. We have some excellent and reputable credit counsellors in Canada who are provincially regulated who can sometimes h