Our MP says northern Ontario secured a win with the Liberals proposing to amend legislation to change the Companies’ Creditors Arrangement Act, making post-secondary institutions unable to use it and declare bankruptcy.
Last year, Timmins —James Bay MP Charlie Angus says he introduced a private members bill to change the act after nearly 200 staff and faculty members lost their jobs without severance due to Laurentian University invoking insolvency proceedings.
Angus says closing that avenue is a huge win for the North ensuring it never happens again and workers at public universities get the pension and severance they are owed.