By CAUT Staff
In late November, letters between Laurentian University and the province that had been sealed by the courts at the beginning of its insolvency were made public. They clearly showed that the university had turned down financial support from the province. Instead, it chose to file for insolvency under the Companies’ Creditors Arrangement Act (CCAA). This led to the termination of 124 faculty and over 50 programs, a recent statement by the Laurentian University Faculty Association (LUFA) noted.
“The manufactured financial crisis and unnecessary cuts have been devastating,” said LUFA President Fabrice Colin. “However, the revelations we have learned about since those cuts were made make clear that an independent inquiry is needed and that it is needed now.”
CAUT Executive Director David Robinson emphasized the need for an inquiry.
“An independent public inquiry is necessary to hold those responsible for financial mismanagement to account and prevent another crisis like this from happening elsewhere,” said Robinson. “The Liberal government needs to take action to ensure that publicly funded universities and colleges never again exploit federal insolvency laws that are designed for the private sector.”