LU will ask for extension on reconstruction efforts

Laurentian University is filing for permission to extend its restructuring efforts. The university is in court once again this week, asking the stay of proceedings protecting it against its creditors to be extended until Jan. 31, 2022. At the same court date, Laurentian is also asking that the maturity date for more than $35 million in bridge financing loans be extended to the same. The university announced on Feb. 1 it is insolvent and had filed for creditor protection.