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Ukraine Claims Russian Summer Offensive Falls Short of Strategic Goals

A firefighter works at the site of an apartment building hit during a Russian drone and missile strike, amid Russia's attack on Ukraine, in Zaporizhzhia, Ukraine in this handout picture released August 30, 2025. Ukraine’s armed forces have declared that Russia’s much-publicized summer offensive failed to secure full control of any major Ukrainian city, despite Moscow’s claims of significant territorial gains. Russian Chief of General Staff Valery Gerasimov stated that since March, Russian forces had captured over 3,500 square kilometers of territory and taken control of 149 settlements. However, Ukraine’s General Staff dismissed these figures as “grossly exaggerated,” asserting that no major urban centers were fully occupied by Russian troops. Military analysts note that Russia’s campaign, aimed at seizing the Donbas region and forcing Ukraine into concessions, devolved into a slow, attritional struggle rather than the decisive breakthrough Moscow had anticipated. While Russian ...
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Hudson’s Bay Lease Deal with Ruby Liu Faces Court Challenge from Frustrated Lenders


                                    Store closing ads at a Hudson's Bay in Toronto. By the time Canada’s oldest retailer ceases to exist in any form, it will no longer be called Hudson’s Bay.               

Hudson’s Bay Company is facing mounting legal pressure as one of its key lenders, Restore Capital LLC, has filed a motion to terminate a controversial lease deal with B.C. billionaire Ruby Liu. The motion, submitted to the Ontario Superior Court, seeks to halt the retailer’s plan to transfer up to 25 store leases to Liu and calls for the appointment of a “super monitor” to oversee the liquidation of the company’s remaining assets.

Restore Capital alleges that Hudson’s Bay has mismanaged the lease transfer process, incurring over **$18 million in unnecessary expenses**, including rent, consultant fees, and signage removal. The lender claims these costs have eroded its collateral and jeopardized any chance of recovery.

While a smaller deal involving three leases at Liu’s own malls was approved earlier, the broader transaction has stalled amid landlord opposition. Major property owners like Cadillac Fairview and Oxford Properties have rejected Liu’s plans, citing a lack of a viable business strategy.

With the court-imposed July 15 deadline looming, Restore argues that Hudson’s Bay’s continued pursuit of the Liu deal is draining resources and delaying resolution. The motion proposes expanding the powers of Alvarez & Marsal, the current court-appointed monitor, or appointing Richter Consulting Inc. as a receiver to expedite the wind-down process.

As the legal battle intensifies, the future of Hudson’s Bay’s remaining assets—and Ruby Liu’s retail ambitions—hangs in the balance.


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