SUDBURY – The effects of Laurentian University’s insolvency on the Sudbury community, students, staff and faculty remains deeply concerning. Over the past year, Viviane Lapointe, MP Sudbury has been working closely with Senator Lucie Moncion and the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry to ensure this does not happen to any other post-secondary institution or community.

Senator Moncion has authored a Bill which is currently before the Senate. The Bill aims to prevent post secondary institutions from accessing the CCAA as a means of dealing with financial hardship.

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, launched a consultation seeking feedback from universities, experts, lenders and other stakeholders on how to better protect the public interest functions of public post-secondary educational institutions when they become insolvent.

“I have heard first-hand the lasting impacts Laurentian University’s insolvency has had on our community. This consultation is a key step in advancing Senator Moncion’s Bill. Once the Bill is passed at the Senate, it will be presented to the House of Commons,” explained Viviane Lapointe, Member of Parliament of Sudbury. “The consultations are also important as it provides members of our community an opportunity to share their experience with Laurentian University and the CCAA process,” added MP Lapointe.

Over the next 30 days, Innovation, Science, and Economic Development Canada will hold a series of roundtable discussions with specific groups.  The Government will then engage with provincial governments. To learn more or to become involved, we invite you to reach out to [email protected]