Employees laid off during Laurentian insolvency receive severance pay

Faculty and staff who were laid off during Laurentian University’s insolvency in 2021 have received their reduced severance. These creditors have received 25% of their claims, with withholdings deducted. Laurentian University Faculty Association President Fabrice Colin said that former employees waited five years for these cheques, which represent “the last and final step of that painful process.” “This is yet another illustration of the fact that the CCAA process was entirely ill-suited to universities, and fortunately enough no university in the country will be subject to that process in the future,” said Colin.