By 1995, the institution had become insolvent and filed to make a proposal to creditors under the Bankruptcy and Insolvency Act in Canada. A new president, Brian Stiller, and CFO, Winston Ling, were brought on and a new board was chosen. In 1998 the school was renamed "Tyndale College and Seminary" after William Tyndale, a Reformation theologian of the sixteenth century. The leadership intended the name change to indicate their vision to build "a world-class centre of Christian higher education in Canada."