Saskatoon Lighthouse may not have enough money left to pay staff
CTV
The fate of a financially troubled Saskatoon non-profit remains uncertain after a court hearing on Thursday.
The fate of the financially troubled Lighthouse in Saskatoon remains uncertain after a court hearing on Thursday.
The hearing, which was expected to decide whether the non-profit would go into receivership, was adjourned until Tuesday.
The delay comes after recent court filings outlined financial concerns at the Lighthouse and a previously-conducted audit identified potential conflicts of interest involving some board members,
During Thursday's hearing, court heard that Affinity Credit Union, the Lighthouse's primary lender, says there is only $43,000 left in the non-profit's line of credit, which is not enough to cover upcoming paydays for employees.
During the hearing at Court of King's Bench, it also came to light that the three members of the board who are not applying for receivership had retained a new lawyer, who was given the long weekend to review the documents and come back prepared.
Justice Allison Rothery said that a decision would be made on Tuesday, as hopefully more information can be learned over the weekend to gain a better understanding of the situation.
The lawyers involved have agreed that there can be no selling of assets, no operational changes or layoffs, and no destroying records of any kind.
