Approval paves way for University to exit CCAA process
(October 5, 2022) – Laurentian University’s exit from the Companies’ Creditors Arrangement Act (CCAA) process is now within reach as Ontario’s Superior Court of Justice has approved the university’s Plan of Arrangement.
With this most recent approval, Laurentian is now weeks away from being able to successfully emerge from the CCAA process. This significant milestone should give confidence to those applying to Laurentian that they will be able to start and finish their degrees here.
Approval of the Plan by the Court allows the University to proceed to Plan Implementation, once the conditions to Plan Implementation have been satisfied. When the Plan is implemented later this fall, Laurentian will have successfully emerged from its CCAA restructuring as a financially sustainable university with a solid path for future success. The Plan of Arrangement was previously approved by the University’s creditors on September 14, 2022.
The University will soon welcome hundreds of prospective students and their families to its Fall Open House on October 22. During the event, students are led on guided tours of the campus, meet faculty members and even sit in on sample lectures in multiple disciplines. Registration for the event is now open.