When Laurentian University filed for protection under the Companies’ Creditors Arrangement Act (CCAA), it became the first public university in Canada to do so. Let’s make sure it is also the last.
Ask your federal candidates to exempt public institutions from the CCAA and BIA
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2 Responses to “Ask your federal candidates to exempt public institutions from the CCAA and BIA”
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I ask that Parliament amend the Companies Creditors Arrangement Act and BIA so these can no longer be used by any publicly-funded organization.
Additionally, these should be further amended so all employees will be first in line among creditors.
It is outrageous and unconscionable that public institutions – those that are regulated by government and rely upon public funding to operate – can be held subject to the CCAA and Bankruptcy Insolvency Act. The decision to force Laurentian University into the CCAA process (overriding provisions in the Collective Agreement to address financial exigencies internally) while providing additional funds for many other post secondary institutions in Ontario was a calculated political manoeuvre. Not only did it show lack of leadership by the Minister, University executives, and the Board, but huge disdain for the social and economic wellbeing of Northeastern Ontario.