The provincial government “moved as quickly as we could” after learning Laurentian University was in financial trouble, Minister of Colleges and Universities…
Clarity on the Enforcement of Settlements
In
3113736 Canada Ltd. v Cozy Corner Bedding Inc., the
Ontario Court of Appeal provided an answer about whether a class
member is bound by a class action release even if the party did not
receive notice of the class action, the settlement which contained
the release, or the right to opt-out. The Court held that while
notice to class members must be adequate, the lack of actual notice
to any particular class member does not prevent the class from
being bound where sufficient steps have been taken to provide
adequate notice.
This case involved a manufacturer and supplier of foam products,
Lakehead University is financially sound, vice-president says
Kathy Pozihun says LU adheres to a policy requiring balanced budgets.
Feb 3, 2021 2:23 PM By: Gary Rinne
Kathy Pozihun is vice-president, administration and finance, at Lakehead University (LU photo)
THUNDER BAY In the wake of a calamity that came to light this week at Sudbury s Laurentian University, a spokesperson for Lakehead University is giving assurances the school s fiscal position is solid.
The two universities are roughly comparable in size and are by far the largest post-secondary institutions in Northern Ontario.
Laurentian announced Monday that it is insolvent and has been forced to file for protection under the Companies Creditors Arrangement Act.
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