Laurentian University made the damaging decision to pursue creditor protection on the advice of external counsel when it was placed in a perilous financial situation after years of poor strategic decisions and weak board oversight, according to a new report from Ontario’s Auditor-General.
The upheaval has had a destabilizing impact on the university, the city of Sudbury and Northern Ontario, which grappled with the threat posed to a key regional institution. “Laurentian’s leaders made a bad situation worse by declining government assistance, circumventing obligations to work with faculty and staff and opting to file for court protection,” Ms. Lysysk said in her report.
“Our audit found that, under the guidance of external counsel, senior administration and the Board of Governors were more focused on pushing Laurentian into the CCAA process and less on working transparently and co-operatively with the Ministry and faculty and staff labour unions,” Ms. Lysysk said. “Quite frankly one has to question whether paying more than $30 million and counting for external legal and financial advisors would not have been better spent on educating students.
Time to check out who leadership was giving political donations to. Causebthese donations went towards, turning a blind eye to a sinking ship
🤣 Literally failed following the Liberal government playbook.
Opted for provincial aid? What aid?