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2 clusters · 6 sources · 11 days · First seen 18 days ago · Last updated 8 days ago

LaSalle College financial and legal crisis

Overview

LaSalle College in Montreal entered creditor protection following a $30 million fine from the Quebec government. The penalty was issued for exceeding enrollment limits in English-language programs under a 2022 provincial language law. The college also faced the withholding of academic subsidies, which caused scheduled classes to be placed on hold.

Following a court decision, the college has been permitted to resume classes. Superior Court Judge Martin Castonguay extended the institution’s creditor protection to allow for the negotiation of a payment plan. The college faces approximately $48 million in total debt, comprising the $30 million in fines and a requirement to reimburse $17.9 million in previously received subsidies.

The court ordered the reinstatement of government subsidies during this transitional period to prevent a total shutdown that would affect thousands of students, noting that the government had not provided a viable path for debt repayment.

Entities

Quebec government · LaSalle College · Martin Castonguay · Claude Marchand

Timeline

8 days ago

[BUSINESS] 2 sources
LaSalle College resumes classes following creditor protection renewal
A Quebec judge has extended creditor protection for Montreal’s LaSalle College, allowing classes to resume while the institution negotiates a repayment plan for $48 million in fines and subsidy reimbursements.
18 days ago

[BUSINESS] 4 sources
LaSalle College obtains creditor protection after $30 million fine
LaSalle College has entered creditor protection after being fined $30 million by the Quebec government for exceeding English-language program enrollment limits.

Sources

brandonsun.com · dailyguardian.ca · lesaffaires.com · looniepolitics.com · montrealmirror.com · winnipegfreepress.com