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cash advance online Share Share this Story: Quest University granted creditor protection in court Copy Link Email Facebook Twitter Reddit Pinterest LinkedIn TumblrNews Local News COVID 19 Politics National COVID 19 Crime World Education Staff Blogs Weather Podcasts BC Public Sector Salaries Database Archives Hot Topics Business Local Business Open during COVID Featured Businesses Energy Mortgages Real Estate Commercial Real Estate Economy Next Technology Gaming Internet Personal Tech Retail FP Markets Small Business BC Top Employers Opinion Columnists Letters Op Ed Sports Hockey Vancouver Canucks NHL Football BC Lions CFL NFL Soccer Vancouver Whitecaps MLS International Baseball Basketball NBA NCAA Golf Golf Videos MMA Curling Tennis Auto Racing Arts Local Arts Celebrity Movies Movie Listings Television TV Listings Music Theatre Festivals Books Life Shopping Essentials Food Local Food Reviews Recipes Wine Country Salut! Health Local Health Diet Fitness Family Child Men Women Seniors Sexual Health Fashion Beauty Parenting Relationships Royals Puzzles New York Times Crossword Comics Advice Horoscopes Contests National Contests Homes Buying Selling Westcoast Homes and Design Current Issue Condos Decorating Gardening Renovating Out of Town Properties Travel Local Travel International Travel Obituaries Place an Obituary Place an In Memoriam Classifieds Place an Ad Celebrations Real Estate Marketplace Local Directory This Week’s Flyers Jobs Auction Driving All Driving News Reviews Car Comparison Buyer’s Guide Healthing The GrowthOp Videos ePaper Our Offers My Account FAQShare this Story: Quest University granted creditor protection in court Copy Link Email Facebook Twitter Reddit Pinterest LinkedIn TumblrBreadcrumb Trail Links Local News Quest University granted creditor protection in court The Squamish university, facing a $23 million loan that had come due, elected to seek court ordered creditor protection to give it some time to pay off its debts. Photo by Ian Smith / Article content Quest University, an independent university in Squamish with more than 500 students that was established through the vision of former UBC president David Strangway, is in financial difficulty and has gone into creditor protection. Supreme Court on Thursday gives the university an estimated four to six months to get out from underneath a $23 million loan that recently came due.The university says the lender, the Vanchorverve Foundation, threatened receivership and demanded that several of Quest’s board members give up their seats, which the university says would have resulted in giving the lender control of the board.Rather than agree to the demands and being unable to pay down the loan, the university went to court and received approval for relief under the federal Companies’ Creditors Arrangement Act.Article content She said the university has had assemblies with students and faculty and is being “completely transparent” about what has happened.”Our aim is business as usual, classes running as usual, payroll as usual,” she said cash advance online..