TORONTO — Ontario’s post-secondary minister says an investigator probing the financial problems at Laurentian University will issue a final report in six to eight weeks.
Ross Romano says the report will help the government decide next steps when it comes to the university.
The northern Ontario school filed for creditor protection earlier this month amid what it called “unprecedented” challenges after a decade of financial strain.
The school’s president said that proceedings under the federal Companies’ Creditors Arrangement Act won’t affect day-to-day operations at the school.
Romano says today that the province was made aware of the serious nature of Laurentian’s financial issues six months ago.
The province has warned it may introduce legislation granting it greater oversight of every university’s finances.