The cheque is in the mail, finally.
The last group of people, companies and others owed money by Laurentian University when it declared insolvency four-and-a-half years ago are finally getting at least some of what they’re owed.
The plan to pay back Laurentian’s final creditors is in the works with last week’s completion of a real estate deal between Infrastructure Ontario and Laurentian University.
Back in September of 2022, a plan was put before the unsecured creditors for a vote.
They were told they could be compensated between 14 and 24 cents on the dollar on the amount they were owed, and if they voted against that plan, there was no guarantee of any compensation.
The vote passed.
To raise the money to pay off the creditors, another deal…