Overview

• Liu’s Aug. 13 court filings counter landlord objections by pledging to cover the first year’s rent if lease assignments move forward.
• She provided commitment letters from suppliers including Conair and Northern Reflections to demonstrate inventory readiness for her mixed-use department-store concept.
• Cadillac Fairview, Oxford Properties and other landlords argue that existing lease terms prohibit entertainment and dining conversions and say Liu’s renovation budgets and timelines are unrealistic.
• Liu has already secured three leases in British Columbia and lodged multimillion-dollar deposits on up to 25 former Hudson’s Bay and Saks Canada sites for extensive fit-outs.
• An Ontario Superior Court hearing scheduled for late August will determine whether Liu can take on the 25 disputed leases and set the framework for creditor recoveries under the CCAA.