Following AG Laurentian report, unions, politicians call for legislation to prevent use of CCAA process by postsecondary institutions

November 24, 2022
Following the Auditor General of Ontario’s report on Laurentian University’s pursuit of insolvency protection under Companies’ Creditors Arrangement Act (CCAA), several groups and politicians have called for the prevention of the act’s use at other institutions. Canadian Association of University Teachers Executive Director David Robinson issued a statement arguing that increased legislation is needed to ensure other postsecondary institutions do not use the CCAA process and stating that “CAUT will continue to advocate with the federal government for the explicit exclusion of public post-secondary institutions from the CCAA.” CBC reports that a bill excluding postsecondary institutions from entering CCAA has been sponsored by Senator Lucie Moncion and has received its first and second reading in the Senate, and Sudbury Liberal MP Viviane Lapointe pledged to sponsor the bill if it is passed by senate. CAUT | CBC (1) | CBC (2) (ON)