by Maria Driscoll

Holland College President, Alex MacAulay, today responded to the issue of funds the College had received through the Protestant Children's Trust.

MacAulay stated that Holland College received monies from the Protestant Children's Trust as Trustees. A Bursary Trust was created from which Holland College would distribute the income earned in the Trust to recipients as dictated by the terms of the Protestant Children's Trust.

Holland College was a trustee only and never had any ownership interest in the property. The College had confirmed to the Protestant Children's Trust quite some time ago that the monies could and would be returned to the Protestant Children's Trust upon receipt of the Court Order which was just rendered by Mr. Justice Campbell.

Mr. MacAulay also stated that Holland College never took issue with the ownership of the funds and as a result did not participate in the dispute as to the ownership of the funds recently dealt with by the Supreme Court. He added that he was pleased to see the issue resolved and the funds will be returned immediately.