Calls for legislation preventing another Laurentian debacle
Laurentian University is officially out of creditor protection as of Monday, two days ahead of the deadline it was facing. Now, calls are resuming for a change to legislation so this precedent can never happen again.
The Canadian Association of University Teachers said there needs to be more accountability for what has happened and has called on the federal liberal government to remove publicly-funded post-secondary education institutions from the Companies' Creditors Arrangement Act (CCAA).
"We need commitment from the government to say we will sponsor legislation to deal with these issues so that no other university or college in the country will have to go through this process again," CAUT executive director David Robinson said.
"I want to be able to table that legislation in the House of Commons and in effect what it would do is would not allow any post-secondary institution to be able to access and use the CCAA," Sudbury MP Viviane Lapointe said.
The school's faculty association also said there is still work that needs to be done.
"Now that we are no longer constrained by the limitations of the CCAA, we will use the tools at our disposal to ensure that the new administration implements the improvements we’ve called for," said Fabrice Colin, the president of the Laurentian University Faculty Association.
In the auditor general of Ontario’s special report on Laurentian university, it details years of financial mismanagement and what was called an unnecessary decision to file for insolvency protection.
"Reforming our governance, improving operations and heeding the recommendations of the auditor general will keep us on track but, most importantly, we must be committed to respecting all of the university’s stakeholders as key decisions about the future are made," said Jeff Bangs, the LU board chair.
"We are committed to rebuilding pride in LU and regaining the confidence of our many stakeholders and the Greater Sudbury community. We’ll do this through our actions in the months and years ahead as we form our strategic plan and continue organizational transformation," Laurentian University's interim president, Tammy Eger, said.
It was the first time a public institution in Canada declared a form of bankruptcy, a move normally only used by private companies. More than 60 programs were cut at the school and 150 jobs were lost in the process.
CTVNews.ca Top Stories
Widow looking for answers after Quebec man dies in Texas Ironman competition
The widow of a Quebec man who died competing in an Ironman competition is looking for answers.
Tom Mulcair: Park littered with trash after 'pilot project' is perfect symbol of Trudeau governance
Former NDP leader Tom Mulcair says that what's happening now in a trash-littered federal park in Quebec is a perfect metaphor for how the Trudeau government runs things.
World seeing near breakdown of international law amid wars in Gaza and Ukraine, Amnesty says
The world is seeing a near breakdown of international law amid flagrant rule-breaking in Gaza and Ukraine, multiplying armed conflicts, the rise of authoritarianism and huge rights violations in Sudan, Ethiopia and Myanmar, Amnesty International warned Wednesday as it published its annual report.
Photographer alleges he was forced to watch Megan Thee Stallion have sex and was unfairly fired
A photographer who worked for Megan Thee Stallion said in a lawsuit filed Tuesday that he was forced to watch her have sex, was unfairly fired soon after and was abused as her employee.
Amid concerns over 'collateral damage' Trudeau, Freeland defend capital gains tax change
Facing pushback from physicians and businesspeople over the coming increase to the capital gains inclusion rate, Prime Minister Justin Trudeau and his deputy Chrystia Freeland are standing by their plan to target Canada's highest earners.
U.S. Senate passes bill forcing TikTok's parent company to sell or face ban, sends to Biden for signature
The Senate passed legislation Tuesday that would force TikTok's China-based parent company to sell the social media platform under the threat of a ban, a contentious move by U.S. lawmakers that's expected to face legal challenges.
Wildfire southwest of Peace River spurs evacuation order
People living near a wildfire burning about 15 kilometres southwest of Peace River are being told to evacuate their homes.
U.S. Senate overwhelmingly passes aid for Ukraine, Israel and Taiwan with big bipartisan vote
The U.S. Senate has passed US$95 billion in war aid to Ukraine, Israel and Taiwan, sending the legislation to President Joe Biden after months of delays and contentious debate over how involved the United States should be in foreign wars.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.