February 1, 2022 marks the first anniversary of Laurentian University of Sudbury’s declaration of insolvency, and its decision to seek protection under the Companies’ Creditors Arrangement Act (CCAA). This unique case is being closely monitored by northern Ontario and university communities.
The Laurentian saga has seen a number of events and various twists and turns over the past year. The initial shock quickly gave way to a search for answers, as well as numerous court disputes. The timeline below looks back at the key events in the first year of Laurentian University’s restructuring process.
What a disastrous mess. I grew up in Sudbury, was the top student in every school I attended, valedictorian, etc. Even back then – mid 80s – I never, ever even considered attending Laurentian. It had a reputation then as a not-great university, except perhaps in a couple of subjects. I went to Waterloo and Toronto. And yet, I’m still surprised at just how bad this mess is.