I remember a couple years ago I read on the CIC Website that a foreign student may continue to stay in Canada (and get a study/work permit) after their studies have ended even if they are not eligible to either extend their Study Permit or get a Work Permit if banking institutions have failed in their country ... etc. there were 5-6 more reasons like that, you may wanna search this.
Can you post the link where you found this information . please