LU Couldn’t Make Payroll

According to its CCAA filing, Laurentian U “couldn’t meet payroll obligations for February.” An unnamed source told the Toronto Star that the province offered a $12M lifeline to cover payroll for Feb and Mar, but the University allegedly insisted that “heading to court was the only option.” The Faculty Association claims the administration’s past financial practices have been “poorly considered and reckless,” and lacking in transparency. OCUFA and CFS-O are urging the government to provide more long-term funding. Last week, Colleges and Universities Minister Ross Romano said he was “working with our colleagues across government, and certainly with our institutions” to determine where best to use “ultimately limited resources to try and remedy [COVID19 losses] the best we can.” He made it clear, however, that he was not talking about financial issues that “quite frankly pre-date COVID.”  Toronto Star

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