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.