When Laurentian University filed for protection under the Companies’ Creditors Arrangement Act (CCAA), it became the first public university in Canada to do so. Let’s make sure it is also the last.
I’m writing you today, in the middle of a federal election, to ask you to join me in making sure that the CCAA is never used on another public institution again.
Both the CCAA and Bankruptcy and Insolvency Act (BIA) are federal pieces of legislation specifically designed for private-sector corporations, not public institutions. However, as they are currently worded, these acts can still be used to dismantle and restructure public institutions.
If other public institutions (universities, colleges, hospitals) are allowed to invoke the CCAA or BIA, the results will be devastating. At Laurentian, where the CCAA was used, students have lost access to more than 60 programs were lost, over 100 faculty and staff jobs were cut, years of important research was forsaken, and the university has abandoned its commitments to local Francophone and Indigenous communities. Terminated employees were denied severance and instead have to get in line behind big banks, whose profits have soared during the pandemic. Students have had to change programs or transfer to other universities.
Let’s make it clear to candidates from all political parties that they need to publicly commit to updating the CCAA and BIA to exempt public institutions and protect Canada’s vital public services.
Send a letter to your federal candidate today and ask them to take action on this important issue: https://ocufa.on.ca/ask-your-federal-candidates-to-exempt-public-institutions-from-the-ccaa/
President, Ontario Confederation of University Faculty Associations