A group of landlords managing properties leased to Hudson's Bay are resisting the transfer of over 25 leases to billionaire Ruby Liu, following the retailer's creditor protection filing. Although three leases have been successfully transferred due to Liu owning the associated malls, opposition remains from landlords of the other sites, citing poor interactions with Liu. However, legal experts indicate that under amendments to Canada's bankruptcy laws, Hudson's Bay may still navigate around these hurdles to complete agreements with Liu, who assures that landlords will align with her once leases are approved.
"Several landlords have expressed being 'very troubled' with their interactions with Liu, highlighting a lack of productive discussions and meaningful disclosures regarding the lease transfers."
"Liu's insistence that landlords will become more receptive if the court approves the lease transfers showcases her confidence in her plans for revitalizing the properties."
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