Overview

• Cadillac Fairview and several major landlords have lodged objections in the Ontario Superior Court to Liu’s assignment of 25 former Hudson’s Bay store leases
• Landlords contend Liu lacks a detailed business plan, an established retail brand, experienced staff and sufficient funding to operate the spaces
• They argue the proposed $120 million for repairs and $135 million for initial inventory underestimates actual costs and that a 180-day launch target is unrealistic
• The contested lease assignments remain under judicial review ahead of a scheduled hearing on August 28
• The court’s decision will shape creditor recoveries in Hudson’s Bay’s creditor-protection restructuring and determine the viability of Liu’s retail expansion