Hudson's Bay heads back to court for fight with lender over Ruby Liu deal | CBC News
Briefly

Hudson's Bay is back in court contesting a lease deal with billionaire Ruby Liu. Restore Capital LLC aims to terminate the agreement, claiming that efforts to gain landlord support have failed and incurred excessive costs. Restore is seeking a 'super monitor' to enhance oversight of Hudson's Bay, which claims proper governance. The retailer asserts the deal with Liu offers the best opportunity for creditor recovery. Meanwhile, the monitor reports Liu has not provided sufficient responses or information to advance her bid, leading to significant additional expenses.
Restore Capital LLC intends to terminate a deal between Hudson's Bay and Ruby Liu, arguing the efforts to secure landlord approvals have been costly and unsuccessful.
Restore Capital seeks the court's approval for a 'super monitor' to increase oversight of Hudson's Bay during its wind-down process while the Bay contends it's sufficiently governed.
Hudson's Bay argues that the deal with Ruby Liu is its best option for recovering cash for creditors amid the ongoing liquidation proceedings.
The monitor indicated that Ruby Liu has not adequately responded to requests for necessary information or advanced her bid effectively, leading to additional costs.
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