"February 9th, 2009:
Canadian Insolvencies Increase by 45% for the Month of December, 2008 compared with the Same Month in 2007. "

"Recession Drives 2008 Insolvencies to a Record High"

More info on this artical please click on the following links:
http://www.bankruptcycanada.com/bankstats1.htm 1980 to 2008
additional info:
http://strategis.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br02112.html