A committee of Laurentian University faculty members terminated as a result of its 2021-2022 insolvency are applauding the federal government for amending the law so post-secondary institutions can no longer enter court-supervised insolvency restructuring.
Massive cuts to its employees and programs followed, and Laurentian did not exit insolvency until Nov. 28, 2022. “We applaud the passage by federal Parliament of the amendment to the CCAA to prevent the use of this corporate bankruptcy process for public post-secondary educational institutions,” said a written statement put out by the Terminated Faculty Committee.
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