US EditionHudson's Bay Battle over Sale of Leases to B.C. Billionaire Underway at Toronto Court
Ruby Liu plans to invest $120 million in renovations and create over 1,000 jobs with her new department store chain, while landlords dispute her financial and operational capacity.
- A court case began today regarding Hudson's Bay's lease sale to Ruby Liu, opposed by landlords.
- Landlords argue that Ruby Liu's plans lack sufficient timelines and budget for developing a new department store.
- A lawyer for Hudson's Bay stated that the landlords' objections are misguided and emphasized Liu's financial strengths.
- Liu has committed to paying a year of rent upfront, which Hudson's Bay did not offer.
46 Articles
46 Articles
No decision on sale of HBC leases to Ruby Liu as judge says he has 'a few things to think about'
Hudson’s Bay's bid to complete the sale of 25 leases to British Columbia-based billionaire Ruby Liu for about $69 million remained uncertain Friday after an Ontario judge decided to reserve his decision following two days of court hearings.
Bowen Island Undercurrent
B.C. billionaire wanting Bay leases doesn't have cash to launch new chain: landlord
TORONTO — Hudson's Bay landlords were back in court Friday, where they argued a B.C. billionaire doesn't have the cash needed to launch a new retailer. Ruby Liu wants to buy 25 Bay leases for $69.
An arm of iron contrasts Hudson's Bay with owners who oppose the retailer's attempt to sell twenty of its leases to Ruby Liu.
Hudson’s Bay Battle Over Lease Sale to BC Billionaire Could Set Precedent: Lawyer
A potentially precedent-setting showdown between Hudson’s Bay and a group of landlords opposing the retailer’s push to sell about two dozen of its leases to a B.C. billionaire got underway in court Thursday. The battle has been simmering ever since the Bay announced in May that it had selected Ruby Liu to buy 28 of its leases. Three leases in malls she owns were already transferred to Liu, but a who’s who of Canadian landlords are fighting the s…
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