S-215Government of Canada
An Act respecting measures in relation to the financial stability of post-secondary institutions
Prevents Canadian public post-secondary institutions from using the federal Bankruptcy and Insolvency Act or Companies' Creditors Arrangement Act to walk away from obligations to students and faculty. Inspired by the 2021 collapse of Laurentian University's CCAA filing, which left students stranded mid-program.
Status
✓
Introduced✓
1st Reading✓
2nd Reading✓
Committee5
Report6
3rd Reading7
Royal AssentQuick learn
Stops public universities and colleges from using federal insolvency law to shed obligations to students and staff. Response to the Laurentian University CCAA case.
Issues this bill touches
- Education
Prevents public post-secondary institutions from using federal insolvency law to shed obligations. Response to Laurentian University CCAA case.
Legislative history
- First reading
First reading in the Senate.
View source - Second reading
Second reading in the Senate.
View source
Official source
Read full text on Parliament of Canada