Overview

• The Ontario Superior Court approved the sale of six former Bay leases—five to YM Inc. and one to Ivanhoé Cambridge—for more than $5 million
• Hudson’s Bay secured an extension of its restructuring under the CCAA to October 31 to facilitate additional lease disposals and asset preparations
• The company has filed a motion to compel landlords to assign 25 leases to Ruby Liu under her $69.1 million proposal, despite broad objections
• Landlords such as Cadillac Fairview have criticized Liu’s business plan for lacking detail, though the West Edmonton Mall owner has since consented
• A hearing on Liu’s contested 25-store acquisition is scheduled for August 28 as senior lenders warn that further delays could erode their recoveries