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Column: Laurentian must be saved for staff, students, Sudbury and for all of us
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Column: Laurentian must be saved for staff, students, Sudbury and for all of us
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Laurentian punts its founding federation partners April 8, 2021
As it fights off bankruptcy, Laurentian University has terminated its relationship with its federated universities, including the Jesuit-run Catholic college that helped found the Northern Ontario university.
“Termination of the federation agreements was necessary in order to ensure that millions of dollars paid by Laurentian to the federated universities each year relating to the delivery of programs and courses will remain within Laurentian, as part of its path to future financial sustainability,” Laurentian University president Robert Haché said in a statement released April 1.
On Feb. 1 Laurentian entered into a court-supervised restructuring process under the Companies’ Creditors Arrangement Act. It is the first time the CCAA, designed to rescue private companies from bankruptcy, has been used for a public university in Canada.
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Thorneloe University says it will go to court to block Laurentian University from unilaterally terminating its federation agreement.
“Thorneloe is not the cause of Laurentian’s financial problems which have been well known for many months to the Laurentian’s administration, as well as to the Ontario government,” John Gibaut, the president of Thorneloe, said in a release.
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“Thorneloe and the programs it offers play an important role with Laurentian and the Northern Ontario communities we serve. We will oppose this attempt by Laurentian to shut down Thorneloe as a scapegoat for Laurentian’s self-inflicted financial problems.”
Thorneloe seeks to block Laurentian from ending federation agreement
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