The fallout with Laurentian University declaring insolvency continues today with termination notices going out to employees.
Laurentian University’s Faculty Association president Fabrice Colin says he received confirmation late last week that termination notices to those impacted by the struggling university’s restructuring plan are going out today.
Colin adds a condition of the university’s confidential restructuring plan is that a new labour agreement must be in place with the current contract ending July 1st.
Members are voting to ratify the new contract tomorrow after the university senate voted on the restructuring package.
The insolvency process stipulates that the protection period ends April 30 with the confidential details being released to the public.
On Feb. 1, the university announced it had filed for creditors’ protection, saying it would be unable to meet its payroll by the end of the month after its lines of credit were suspended.