US EditionJudge rejects Hudson’s Bay proposal in creditor protection case
- An Ontario judge rejected Hudson's Bay's restructuring agreement, increasing the possibility of lenders seeking receivership.
- The rejected agreement would have allowed senior secured lenders greater control over Hudson's Bay's creditor protection process and imposed a weekly budget.
- Hudson's Bay has begun liquidating most of its stores due to significant financial difficulties admitted on March 7.
- Judge Peter Osborne stated the agreement was 'neither necessary nor appropriate at this time.
37 Articles
37 Articles
YOU SAID IT: Little guy gets shafted again
It's sad that Hudson's Bay, with a history of more than 350 years, is closing. We're hearing that there will be no severance pay for the employees losing their jobs but, lo and behold, there's a plan to give "retention bonuses" to upper management so that they don't look elsewhere during this shutdown, lest some miracle should happen to keep things open.
Judge Rejects Hudson’s Bay Proposal in Creditor Protection Case
An Ontario judge rejected a Hudson’s Bay restructuring agreement Saturday evening, increasing the likelihood that lenders may seek to push the company into receivership. In a written decision issued Saturday, Ontario Superior Court judge Peter Osborne said he declined to approve the agreement because it is “neither necessary nor appropriate at this time.” The agreement wouldn’t have just given the embattled department store an April deadline to …
A decision that increases the likelihood that lenders will seek to place the company in receivership.
The Peterborough Examiner
Judge rejects Hudson’s Bay proposal in creditor protection case
TORONTO - An Ontario judge rejected a Hudson’s Bay restructuring agreement Saturday evening, increasing the likelihood that lenders may seek to push the company into receivership.
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