Laurentian gets protection until end of August, permission to cut ties, begins Phase 2

May 4, 2021
Laurentian University has been given the go ahead by Justice Geoffrey Morawetz of Ontario Superior Court to operate while protected from creditors until August 31st, and to cut ties with three federated universities. CBC reports that cutting its agreement with the University of Sudbury, Thorneloe University, and Huntington University will allow the university to qualify for a $10M loan. Thorneloe and USudbury told CBC that there is “no cost to Laurentian to maintain ties with them.” USudbury expressed extreme disappointment with the court’s decision in a statement, and The Sudbury Star reports that Thorneloe intends to appeal the decision to terminate the agreement. CBC (1) | CBC (2) | The Sudbury Star | USudbury (ON)