Sudbury's art gallery reaches deal to save collection from LU insolvency process
The Art Gallery of Sudbury can continue to operate out of the Bell Mansion until 2025, under the terms of an agreement reached with Laurentian University.
Laurentian University restructuring coverage
In an unprecedented move by a public institution, Sudbury's Laurentian University declared financial insolvency and filed for creditor protection Feb. 1.
On April 1, 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.
On April 14, 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.
CTV News Northern Ontario is committed to continuing coverage on the latest developments of the Companies' Creditors Arrangement Act process.
Check back often for updates.
Woman loses fight to remove her lawsuit from Laurentian's CCAA process
A woman who says she was a victim of sexual assault decades ago at the University of Sudbury has lost her court battle to separate her case from Laurentian University's insolvency process.
Laurentian clears another legal hurdle in creditor protection
Laurentian University cleared another hurdle on Monday as it continues to navigate and emerge from its insolvency troubles.
Province bailing out Laurentian University with long-term loan
The Ontario government is providing Laurentian University with a long-term loan as the school works to emerge from insolvency.
Laurentian faces numerous court cases related to insolvency
A court docket for hearings this week in Toronto reveals the long list of creditors of Laurentian University will have to satisfy to emerge from insolvency.
Bankruptcy bill: LU charged $8.6M in legal, other fees as part of insolvency
The firm overseeing the insolvency process at Laurentian University has submitted an $8.6 million bill for services rendered since the start of the process in February 2021.
Art gallery assets must be protected from LU insolvency, art council says
As first reported by CTV Northern Ontario, the Art Gallery of Sudbury learned recently its assets are in danger because of Laurentian University's insolvency process.
Art Gallery of Sudbury assets must remain part of Laurentian insolvency process: court documents
Art Gallery of Sudbury assets worth $6.39 million must remain part of the insolvency process at Laurentian University, say court documents filed by the monitor of the process.
Changes needed to prevent another Laurentian fiasco, auditor says
More oversight and a commitment to transparency would go a long way toward preventing another financial meltdown like the one at Laurentian University.
Watch
Laurentian University clears another legal hurdle
Laurentian University has cleared another legal hurdle in its insolvency process with an extension of its creditor protection.
