By Rosalind Russell – The Ontario Superior Court of Justice has approved Laurentian University’s Plan of Arrangement from the Companies’ Creditors Arrangement Act.
University communication office Sarah de Blois says the university is now weeks away from successfully emerging from the process following the approval in court yesterday.
She adds once the conditions of the plan are satisfied, it can be implemented, which is expected to take place this fall.
De Blois says the university should emerge from the restructuring as a financially sustainable university under the plan previously approved by the creditors this past September 14th.
Photo: Laurentian University will be implementing a plan to take it out of the bankruptcy process within the next few weeks. Photo provided by Laurentian University and used with permission.