The union representing Laurentian University faculty is going after insurance money held by the insolvent university, saying the universitys leadership mismanaged its finances.
Laurentian University Faculty Association (LUFA) president Fabrice Colin explained that lawsuits cannot be filed against Laurentian at this time, as the university is still under court protection through the Companies Creditors Arrangement Act (CCAA).
However, under the auspices of the CCAA, LUFA was able to file something called a D&O (directors and officers) claim against Laurentian on behalf of its members.
The union did just that at the end of July, filing a D&O claim against past and present directors and officers of the university, including the board of go…
Read the full article at: https://www.northernontariobusiness.com/industry-news/training-education/laurentian-university-faculty-going-after-insurance-money-claiming-mismanagement-4336267
