Skip to main content

Featured

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 ...
Post a Comment
Read more

article

Labels

Tragedy at the Tap: Gaza Children Killed in Errant Missile Strike

In a deeply tragic incident on Sunday, an Israeli missile strike in central Gaza killed at least eight Palestinians—most of them children—who had gathered at a water distribution point in the Nuseirat refugee camp. The victims were among dozens of residents attempting to collect water amid worsening shortages caused by fuel disruptions that have crippled desalination and sanitation facilities.

The Israel Defense Forces (IDF) stated that the missile was intended to target an Islamic Jihad militant but malfunctioned, landing “dozens of metres from the target”. The IDF expressed regret for the civilian casualties and confirmed that the incident is under review.

Emergency physician Ahmed Abu Saifan at Al-Awda Hospital reported that six children were killed and 17 others injured in the strike. Witnesses described scenes of panic and devastation, with children and adults running for safety as the missile hit.

This strike comes amid a broader humanitarian crisis in Gaza, where over 58,000 people have been killed since the war between Israel and Hamas began in October 2023, according to Gaza’s Health Ministry. Talks aimed at securing a ceasefire remain stalled, with both sides divided over terms of Israeli withdrawal from the enclave.

The incident has intensified calls for accountability and renewed international concern over the safety of civilians in conflict zones.

Labels:

Comments

Post a Comment