In an unprecedented move by a public institution, Sudbury's Laurentian University declared financial insolvency and filed for creditor protection Feb. 1, 2021.
On April 1, 2021, Laurentian terminated its federation agreement with three other schools on campus: University of Sudbury, Huntington and Thorneloe.
The list of program closures was made public on April 12, 2021.
On April 14, 2021, Laurentian announced its varsity hockey and swimming programs were being cut.
Two judges have dismissed appeals from Thorneloe University and the University of Sudbury trying to stop the termination of the agreement Laurentian has with its federated universities. The rulings mean that LU can proceed to the next stage of its insolvency process, allowing it to access $10 million in emergency loans to keep operating until Aug. 31, 2021.
In a crucial development, creditors owed more than $180 million by Laurentian University approved a plan Sept. 14, 2022, that will allow them to recover part of what they are owed and allow LU to emerge from insolvency.
The university official emerged from insolvency in November 2022.
The February incident that devastated Laurentian University’s IT systems was a ransomware attack, the school said in response to a freedom of information request from CTV News Northern Ontario.
To ensure the Laurentian University insolvency case never happens again, federal legislation has been passed to block public universities from using the Companies’ Creditors Arrangement Act and the Bankruptcy and Insolvency Act.
Laurentian University's board of governors approved a budget of just over $201.7 million for the 2024-2025 fiscal year.
The Laurentian University's president's house is officially on the market in Sudbury and is described in the real estate listing as the city's most historical property.
Following the resignation of former Laurentian University President Robert Haché more than a year ago, the Sudbury institution is announcing its new permanent leadership.
The search committee responsible for finding a permanent president for Laurentian University has identified a candidate.
Sudbury MP Viviane Lapointe said Tuesday evening that the fall economic statement includes plans to change the legislation that allowed Laurentian University to declare insolvency.
Reaction is continuing to come in and it is mostly surprise and disappointment over the province's late Friday afternoon announcement to not fund Université de Sudbury. The school was looking to become the province's next stand-alone French language university after parting ways with a financially insolvent Laurentian University.
There isn’t enough demand to justify turning the University of Sudbury into a standalone French-language university, the province announced Friday afternoon.
Nickel Belt MPP France Gélinas says she was shocked at the decision not to fund the University of Sudbury and did not see it coming.
