21-TEN-01 Science I Vacuum System
Please note:
The Science 1 Vacuum System project is being solely funded with investments from the Ministry of Colleges and Universities Facilities Renewal Program (FRP) 2020-20201. The investment was created to aide in addressing critical maintenance, repairs, upgrades and renewals over three years, starting in 2020-21 for Ontario’s universities and colleges.
Laurentian University confirmed funding from the FRP program on April 28, 2021
and as such, the Science 1 Vacuum System project has secured all necessary
funding. For complete grant program information please visit the Ministry of Colleges and Universities website at the following link.
As reported on February 1, 2021 Laurentian University is insolvent. The University has therefore started a court proceeding under the Companies Creditors Arrangement Act. It has begun a court-supervised process to financially and operationally restructure Laurentian University, with the assistance of a Monitor.
The target date for having a phase 1 - restructuring plan that provides a sustainable and clear path forward is April 30, 2021. As such, this invitation to tender closing date has been strategically placed following the phase 1 CCAA completion date, in order to assure clear project plans moving forward.
Further stages of CCAA will continue following April 30, 2021, however as the (insert project name) is funded from the Ministry of Colleges and Universities Facilities Renewal Program (FRP) 2020-20201, the project schedule will not be impacted.
Laurentian’s FAQ page regarding CCAA proceedings, can be found at the following link.
