Citing the story of Sudbury’s Laurentian University, federal gov’t made the announcement in this week’s fall economic statement
The federal government has signalled it will move to prevent post-secondary institutions from declaring insolvency.
This in the wake of Laurentian University’s 2021-2022 insolvency, which included mass layoffs and program cancellations, the severing of ties with federated universities operating on campus (resulting in even more layoffs and program cancellations) and a plan of arrangement that will see LU creditors receive only roughly 14 to 24 per cent of what they’re owed.
The issue is tackled in the federal government’s fall economic statement, which was released on Nov. 21.
“Following the…
