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matrix said:
www.theglobeandmail.com

Hudson’s Bay lenders file motion to terminate Ruby Liu lease deal

Investment firm ReStore Capital asked court to appoint ‘super monitor’ to control the closed retailer, saying that it mismanaged the business wind-down
www.theglobeandmail.com www.theglobeandmail.com

Unpaywalled link: https://archive.ph/c5DQZ

Uh oh! Even the lenders are getting upset now. But this time, it has more to do with what Hudson's Bay is doing post-closure money-wise than anything Liu is doing herself. They're still paying rent to the landlords on the empty leases to try and get the Ruby Liu deal to go through, spending $18 million on removing signage alone soon, and the creditors are just mad at HBC for spending all this money during the wind-down when they could be getting that themselves.
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🤦‍♂️ What a 🤡 show this has become!
 

Hudson's Bay hearing on lease deal adjourned as Ruby Liu appears without lawyer

By Tara Deschamps
winnipegsun.com winnipegsun.com
Liu said she intends to hire a new lawyer. She was previously represented by both Cassels Brock & Blackwell LLP and Miller Thomson but has parted ways with each.

Gavin Finlayson, a Miller Thomson lawyer, appeared in court to confirm he was no longer representing Liu, but did not say why.

Speaking to reporters outside the courthouse later, Liu said she had been dropped by her lawyer “all of a sudden” on Sunday after a disagreement over whether his firm should be paid $3 million more to represent her.

Liu said her legal counsel was the topic of a letter she sent [Judge] Osborne, but declined to offer further details. Osborne had advised her during the court session that parties are not to communicate with the judge outside of the hearing.
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Richard White said:
IANAL but it appears that her legal counsel saw which way the wind was blowing and asked for money. She did not like it and asked to replace her legal counsel.

I hate to say it but Ruby seems to be incompetent.

At this point, I would love to see her bid go down the drain just because they are so half baked.
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I don't blame you. Personally, I've been critical of her here a LOT, but I would be lying to tell you that I actively wanted her plans to fail. I don't want to say I would necessarily love for her efforts to go down the drain, but rather I expected this from the jump (if it is the outcome at this point). Do I feel bad though? Not really!
 
Northern Light said:
Case adjourned today when Ruby showed in court with no Lawyer, and no materials. The judge admonished her to get a lawyer and adjourned for now.

Curious strategy!
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It almost sounds like she was expecting some personal deference from the court. She might be a 'brand' in BC but mostly Ruby Who in Ontario, certainly in our courts.
 
Yeah, I'm now fully convinced she has no idea what she's doing and she got lucky money and has used it to sustain her position in BC. It's blatantly clear that showing up to court without a lawyer, and being admonished by the judge for communicating with him outside of session is going to support the landlords' argument that she hasn't presented them with viable plans and is incapable of running 25 department stores.

At the same time, she's prepared to contribute $100M to creditor repayment so I can see how the judge didn't immediately rule on the case in the landlord's favour and end this charade. The CCAA process is about making creditors whole while winding down a business in an orderly fashion. If HBC doesn't have any other options to make those $100M, the court isn't going to deny her bid without exhausting all options.
 
PurplePinky said:
Sounds to me like Ruby failed to pay her legal bills. 💵
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I think they get paid, but they get paid when Ruby cashes in, there is some culture to this, and Ruby is much smarter then she appears in this hearing, yet gets more time from the judge. Money talks and she will strong this process out for some time yet. There is an end game here and it may not be fully apparent as yet.
 
just east of the creek said:
I think they get paid, but they get paid when Ruby cashes in, there is some culture to this, and Ruby is much smarter then she appears in this hearing, yet gets more time from the judge. Money talks and she will strong this process out for some time yet. There is an end game here and it may not be fully apparent as yet.
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With the companies named, clients have to hire the lawyers on retainers.

It’s not paying the final bill, yes things get dragged out, but it’s a financial commitment and can be drawn upon as needed.

No retainer, no commitment. No lawyer.
 
PurplePinky said:
With the companies named, clients have to hire the lawyers on retainers.

It’s not paying the final bill, yes things get dragged out, but it’s a financial commitment and can be drawn upon as needed.

No retainer, no commitment. No lawyer.
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I understand that quite well, been there, am there. But you missed the key word and that word is culture. In Ruby’s cultural homeland, and to be very summary, our ways are not necessarily their ways. And Ruby reminds me of people I know and how they operate. I have not seen the court records of her last appearance but I did chuckle when I read the update. I am not overly surprised and will be quite interested to see how this plays out.
 
Ah, I didn’t miss any words.

Ruby isn’t in her cultural homeland now.

She must follow ‘when in Rome, do as the Romans’ now.

I see she’s without a lawyer and the most likely reason is she failed to pay the bill. 💵
 
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