In a statement released last night, the 20 councillors who were a part of the PRO des Lavallois party announced they have decided to sit as independents.
According to Radio-Canada, the party has almost $950,000 in its coffers — money that will revert back to the City of Laval now that the party has dissolved.
The party sat unopposed in council for the last 10 years.
Vaillancourt resigned as mayor on Nov. 9 amid allegations of corruption.
The chair of Laval's executive committee, Basile Angelopoulos, has decided not to run for mayor citing professional reasons, Radio-Canada reported.
Councillor Alexandre Duplessis is expected to announce he will seek the position.
Other councillors have until 12:30 p.m. Tuesday to announce their intention to run for interim mayor.