Laurentian University Refused Financial Help Setting Off Creditor Protection And Staff Cuts Ontario S Auditor General Says
Laurentian University has made a strategic decision to opt for creditor protection instead of working with the Ontario government to fix its finances, the state’s Auditor General says in a preliminary report, leading to nearly 200 job losses, millions in additional costs and damages to the institution’s post-secondary reputation. The university did not seek full help from the government as its financial situation deteriorated, nor did it find an alternative way that could have prevented some of the harmful effects of insolvency, says Auditor General Bonnie Lysyk....