Laurentian unions propose court action, cite mismanagement of retirement pension

CBC reports that Laurentian University’s staff and faculty unions have proposed court action against some members of Laurentian’s administration for mismanaging the Retiree Health Benefits Plan. Retirees have reportedly been cut off from the plan since Laurentian filed for insolvency. The unions have stated that this occurred because Laurentian placed plan members’ payments into a single account, mixed with other funds, rather than placing it in a separate account. Laurentian is protected from lawsuits under the Companies’ Creditors Arrangement Act while proceedings continue, but Laurentian University Staff Union president Tom Fenske states that the proposed plan of arrangement would see the unions take legal action once the proceedings are complete. CBC| CTV News Note: Archived stories may contain dead links or be missing source links.

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