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Hudson’s Bay Battles Lender Over Ruby Liu Lease Deal in Ontario Court

Hudson’s Bay Co. is pushing back against a motion filed by its senior lender, Restore Capital LLC, which seeks to terminate a controversial lease sale to billionaire Ruby Liu. The retailer has asked the Ontario Superior Court to dismiss the motion, arguing that the deal represents its best chance to recover funds for creditors amid its ongoing liquidation. The dispute centers on Hudson’s Bay’s plan to sell up to 28 store leases—25 of which remain pending court and landlord approval—to Liu’s company, Central Walk. While three leases have already been approved for $6 million, Restore claims the remaining transaction is draining resources, citing over $18 million in rent and professional fees with no clear path to completion. Hudson’s Bay CFO Michael Culhane defended the deal, stating that Restore was fully aware of the risks and had previously supported the transaction. He emphasized that Liu has already made a $9.4 million deposit and that the sale could generate significant recoveries ...
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Mexico Pushes Back on U.S. Tariff Threat, Urges Shared Responsibility on Security


In response to a fresh wave of tariff threats from U.S. President Donald Trump, Mexican President Claudia Sheinbaum has called for a more balanced approach to regional security. Speaking at her morning press conference in Mexico City, Sheinbaum emphasized that Mexico has been actively combating fentanyl trafficking and expects the United States to step up its own efforts.

“We do our part and they also have to do theirs,” Sheinbaum stated, highlighting Mexico’s concerns over the flow of weapons from the U.S. into Mexican territory and the need for American authorities to arrest drug traffickers operating domestically.

The tension follows Trump’s announcement of a 30% tariff on Mexican imports, set to take effect August 1, citing insufficient action on drug and migration issues. Sheinbaum, however, expressed optimism that a bilateral security agreement could be finalized before the deadline, while firmly rejecting any involvement of U.S. security forces on Mexican soil.

This diplomatic standoff underscores the complex interdependence between the two nations, where trade, security, and migration are deeply intertwined. As negotiations continue, both sides face mounting pressure to find common ground before economic consequences ripple across the continent.

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