SUDBURY — A judge has formally declared Laurentian University insolvent, giving the university breathing room as it works toward restructuring by April 30.
The ruling released Thursday by G.B. Morawetz, chief justice of the Ontario Superior Court of Justice, allows the university to access $25 million in funding to cover salary and other costs as it restructures.
Laurentian will also be able to cut programs and lay off staff, as long as that process doesn’t affect courses students are currently taking.
The school can “permanently or temporarily cease, downsize or shut down any of its business or operations,” Morawetz ruled, adding that LU “shall not cease, downsize or shut down any parts of its business if such action would cause any …
Read the full article at: https://northernontario.ctvnews.ca/laurentian-university-can-cut-programs-lay-off-faculty-as-part-of-restructuring-court-rules-1.5306866
