The legal firm appointed by the court to oversee the Laurentian University bankruptcy proceedings will be looking at settling with claimants.
Ernst & Young representative Liz Pilon says the university asked the courts on Tuesday to approve a plan for compensation of some 1,200 current, former and retired university employees owed money as a result of the university’s restructuring.
She says every individual that has been identified as a potential claimant will receive a statement of compensation claim and could see a settlement by later September.
The university has also proposed a deadline of October 14th for those who believe they have a compensation claim against Laurentian to submit an inquiry form.
The institution is back in court on August 27th to deal with other matters involving claims and the insolvency proceedings.