Canada bankruptcies fall 12.4 pct in January

* Consumer, business bankruptcies down

* Drop the largest January decline in 20 years

TORONTO, April 13 (BestGrowthStock) – Canadian bankruptcies fell
12.4 percent in January from a year earlier as both consumers
and businesses regained strength in the wake of the recession,
data from the federal bankruptcy agency showed on Tuesday.

Consumer bankruptcies fell 11.9 percent to 6,998 in January
2010 from a year earlier, and were 9.6 percent lower than in
December, the Office of the Superintendent of Bankruptcy said
in a report.

Business bankruptcies fell 21.0 percent from a year earlier
to 354 in January. That was down 3.8 percent from December.

The decrease in insolvencies, which include both
bankruptcies and bankruptcy proposals, was the largest drop
recorded for January in 20 years, the agency said, noting that
bankruptcies usually rise in January from December.

On the business side, a reduction in bankruptcies in the
agriculture, wholesale trade, construction, information and
real estate industries led the decline. Bankruptcies in mining
and oil and gas extraction and in utilities rose from a year
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(Reporting by Andrea Hopkins; editing by Rob Wilson)

Canada bankruptcies fall 12.4 pct in January