The following is from the Canadian Association of University Teachers (CAUT):
| Today marks the second anniversary of Laurentian University filing for insolvency protection under the Companies’ Creditors Arrangement Act (CCAA). Two years later, the consequences of this unprecedented move by the institution’s senior administration continue to be felt by those who have lost their jobs and benefits, and by students and the broader community who relied on the 69 programs that were cut.
While the Liberal government promised to exclude public post-secondary institutions from the CCAA, we are still waiting for this change. We need the federal government to protect our universities and colleges from being treated as private corporations under the CCAA.
The Canadian Association of University Teachers (CAUT) is lobbying for legislative changes to ensure no other public post-secondary institution can file for insolvency under the CCAA. There is proposed legislation in both the House of Commons and the Senate that would remove public universities and colleges from the CCAA:
- Private Member’s Bill C-309, An Act to amend the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangements Act (public institutions)
- Senate Bill S-215, An Act respecting measures in relation to the financial stability of post-secondary institutions.
Neither bill will likely be passed into law without government support. As Parliament resumes, we need to ensure the Liberal government makes good on its promise to amend the CCAA.
This is where we need your support.
CAUT is launching a letter campaign calling on members and the broader community to contact the Minister of Innovation, Science and Industry and urge him to support the changes to the CCAA. |
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| In her Special Report on Laurentian University, the Auditor General of Ontario concluded that the senior administration’s decision to pursue insolvency rather than accept government assistance was unnecessary, inappropriate, and ultimately destructive for the institution. The Liberal government must take action to amend the CCAA to protect our public post-secondary institutions. |
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