A B.C. billionaire has lost a fight in an Ontario court over acquiring former Hudson’s Bay properties to open a new department store chain.
Ontario Superior Court judge Peter Osborne ruled on Oct. 24 that landlords of former Hudson’s Bay Company (HBC) properties will not be required to accept Ruby Liu as a tenant.
Osborne said he had “significant concerns” about Liu’s ability to meet the terms of the leases. In a 48-page decision document, Osborne also said he found the arguments by landlords, who have been fighting Liu’s bid to take over the properties, “compelling.”
While both parties are able to appeal the decision, neither has announced plans to do so yet….