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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. 

Terminated faculty call for a 'no' vote to Laurentian's plan of arrangement

A group representing some of the terminated faculty members at Laurentian University are urging fellow creditors to vote no on the school's plan of arrangement. Laurentian needs a 'yes' vote to be able to exit CCAA protection but the letter suggests all parties need to go back to the bargaining table to get creditors a better deal.