DIRECTORS AND OFFICERS “D&O” Claim
RHBP
Update: December 18, 2025 – [FINAL-Endorsement-Colin-and-Fenske-v.-Laughren-et-al-ONSC-6949-Dec-18-2025 (PDF)]
Update: December 18, 2025 – [Issued-ORDER-Settlement-Payment-17-DEC-2025-Justice-Morawetz (PDF)]
Update: December 17, 2025 – D&O Settlement Endorsed!
Dear members,
We are pleased to report that the D&O settlement has been endorsed. As a reminder, the settlement required court approval, which was granted by the judge today.
We expect to receive the formal documentation within the next day or two. Members should expect to receive their cheques in February, and no later than the end of March.
We will share further information as it becomes available. In the meantime, we wish everyone an amazing holiday season.
LUFA Executive
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Update: December 17, 2025 – D&O Hearing Link
Update: December 12, 2025 – [Supplementary Motion – Record of the Plaintiffs (PDF)]
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IMPORTANT UPDATE: Members meeting November 2025
LUFA will be holding a members meeting to discuss the proposed settlement related to the Directors and Officers (D&O) Claim. The date will be confirmed shortly and posted no later than Monday, October 27, 2025.
The proposed settlement provides for a payment of $3 million by the insurer, the Canadian Universities Reciprocal Insurance Exchange (CURIE), in full and final resolution of the D&O Claim, subject to Court approval on December 17, 2025.
This claim arises from the alleged misuse and depletion of Retiree Health Benefit Plan (RHBP) funds by former directors and officers of Laurentian University during the period leading up to and including the CCAA proceedings. LUFA and LUSU have brought this representative action on behalf of their members who contributed to the RHBP, alleging that the former directors and officers sanctioned or participated in the misappropriation of RHBP funds and made misrepresentations regarding the plan.
Members may also attend the meeting via Zoom. Zoom registration is required, and a registration link will be circulated in advance of the meeting.
LUFA’s insolvency counsel will present information regarding the proposed settlement, and members will have the opportunity to ask questions at that time.
Additional Information
Members are encouraged to review the following documents in advance of the meeting: