Canadian bankruptcies declined in December

Combined insolvencies, which include bankruptcy and refinancing proposals, were down 11.1 percent overall, the agency said.

On an annual basis, consumer insolvencies were up by 8.5 percent. However, business insolvencies were down by 15.7 percent for the 12 months ending December.

"A significant reduction in insolvencies in the agriculture, forestry, fishing and hunting; construction, and transportation and warehousing sectors contributed to this decrease," Bankruptcy Canada said.

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