OTTAWA, Nov. 22, 2023 (GLOBE NEWSWIRE) — The Canadian Association of University Teachers (CAUT) welcomes yesterdays announcement in the Fall Economic Statement that the federal government will amend the Companies Creditors Arrangement Act and the Bankruptcy and Insolvency Act to exclude public universities and colleges.
The Liberal government has made good on its promise to close the loophole that allowed the Laurentian University administration to bypass traditional ways that colleges and universities manage financial difficulties, said CAUT executive director David Robinson. As the Auditor-General of Ontario noted in her report on Laurentian, invoking corporate insolvency laws was u…
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