Laurentian exits creditor protection, looks to next steps

Laurentian University has successfully completed its restructuring process and has exited the CCAA process that began on February 1st, 2021. “While there is much healing and hard work yet to be done, today we emerge stronger with safeguards in place to ensure a sustainable, more transparent and inclusive future,” said Jeff Bangs, Chair of the Laurentian Board of Governors. Bangs stated that Laurentian is expected to remain under scrutiny in the future and Auditor General Bonnie Lysyk is reportedly planning to conduct follow-up audits. Sudbury.com reports that the university will next need to find a new president and provost, develop a strategic plan, and implement the terms of the plan of arrangement, including selling up to $53.5M in real estate to the province. Laurentian| CBC| Sudbury.com| SudburyStar Note: Archived stories may contain dead links or be missing source links.