Laurentian University chair expects scrutiny as the facility emerges from creditor protection

By Rosalind Russell – The chair of Laurentian University, Jeff Bangs says he welcomes the scrutiny of the public and the province as the institution finally exits the bankruptcy period.
He says Laurentian declared insolvency and filed for creditor protection back in early 2021 and since then, there have been significant cuts, restructuring and new financial arrangements made.
At last week’s Greater Sudbury Chamber of Commerce, he told the audience that Ontario Auditor General Bonnie Lysyk will be releasing her full audit soon and has already indicated her intention to produce an annual audit for at least another three years.
He adds the creditors approved the plan of arrangement with the courts in September and the university is expected to exit insolvency by the end of this month.
Bang says he welcomes the oversight adding it will take time to rebuild the institution, but he is optimistic about its future. Photo: The chair of Laurentian University, Jeff Bangs says he welcomes the scrutiny of the public and the province as the institution finally exits the bankruptcy period. Photo provided by LU and used with permission.

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