Laurentian University

[Jonathan Whatley]

Kind of weird for a public university to declare bankruptcy.

An analogy is how a U.S. municipality or quasi-municipal body, including a school district or community college, can declare bankruptcy or enter bankruptcy protection, and a few have. City College of San Francisco was approaching bankruptcy circa 2012-14 and its accreditation was threatened but it was rescued but was rescued.

The Ontario government appoints most of the members to public university boards and has huge power of the purse in funding public universities, but within those constraints they govern themselves somewhat like private non-profits.