Latest news with #PeterOsborne
BBC News
17-07-2025
- Business
- BBC News
Kent County Council seeks solution to 'painful' Operation Brock
Kent County Council says it is looking for alternatives to Operation Brock, including an off-road lorry facility to try to ease Brock sees lorries heading to Dover queuing on one side of the M20 in an attempt to ease congestion, but council representatives said it was a "painful measure for everybody in Kent".Peter Osborne, cabinet member for highways and transport, said that while they were seeking a solution to the ongoing issues the contraflow system between junctions eight and nine was "all that we've got".Mr Osborne said: "I'm pretty sure that everyone at the council and most of our residents want to get rid of it." Operation Brock is funded by the Department for Transport (DfT), with decisions on its use made by the Kent and Medway Resilience Forum (KMRF).On average the operation costs about £250,000 each time it is deployed, a Freedom of Information request Osborne said the council had looked at sites for an off-road holding facility, but the site needed to be between Ashford and Folkestone and on the left side of the had included the Sevington inland border facility, which the government is reportedly considering selling following its post-Brexit deal with the EU, but Mr Osborne said the site was on the wrong side of the Howe, highways and transport strategic resilience manager at the KMRF, told Radio Kent that "being realistic, it [Operation Brock] won't be fixed this summer and it won't be fixed next summer".The DfT was approached for comment.
Toronto Sun
15-07-2025
- Business
- Toronto Sun
Hudson's Bay hearing on lease deal adjourned as B.C. billionaire Ruby Liu appears without lawyer
Judge Peter Osborne adjourned the Tuesday hearing, telling Liu "I not only urge but recommend in the strongest terms" that she hire a lawyer to represent her and her plans to buy the leases. Published Jul 15, 2025 • Last updated 10 minutes ago • 4 minute read B.C. billionaire Ruby Liu and her bid to buy up to 25 Hudson's Bay leases was due to come under further scrutiny in court Tuesday — but the battle was waylaid when she showed up with no lawyer or materials to aid in making her case. Photo by Richard Lam / PNG B.C. billionaire Ruby Liu and her bid to buy up to 25 Hudson's Bay leases was due to come under further scrutiny in court Tuesday — but the battle was waylaid when she showed up with no lawyer or materials to aid in making her case. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Judge Peter Osborne adjourned the hearing 'for a short period of time,' telling Liu 'I not only urge but recommend in the strongest terms' that she hire a lawyer to represent her and her plans to buy the leases. 'There are significant concerns being expressed about those plans, so it is important for me to hear from you fully about what those plans are,' he said. Liu signed deals with The Bay in May to buy up to 28 leases in Alberta, B.C. and Ontario belonging to the defunct retailer and its sister banner Saks. She planned to use the properties to open a department store named after herself. Three of the spaces in B.C. malls she owns were transferred to her last month after receiving court approval. The Bay has yet to seek that assent for up to 25 more in properties held by other landlords, who are overwhelmingly opposed to Liu moving in because they say she's yet to provide detailed business plans. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Documents filed in the leadup to Tuesday's hearing in Ontario Superior Court, showed Bay lender Restore Capital LLC and its affiliate Hilco Global were due to join the opposition. Restore, part of a group that loaned The Bay $151.4 million, planned to ask Osborne to terminate the retailer's 25-lease deal because it's 'uneconomical and imprudent.' The longer The Bay goes without landlord or court approval, the more Restore's collateral is being 'frittered away,' the firm said. Alvarez & Marsal, the monitor previously appointed to guide the court process, estimated it's costing at least $4.7 million in rent, property taxes, utilities and other fees each month that the Liu deal goes unapproved. In a filing made just after midnight on Tuesday, it said it wrote to Liu repeatedly reminding her of her obligations and seeking information that could be used to get the court to assign her the leases without landlord approval. This advertisement has not loaded yet, but your article continues below. The monitor said Liu has 'not meaningfully responded,' provided landlords with more information that might get them onside or even taken 'the most basic and necessary steps' to advance her bid. Liu previously provided landlords with information about her plans and believes they will welcome her if a court assigns her the leases. 'We will work closely with HBC and have already hired experts,' Liu told Osborne on Tuesday, speaking in Mandarin that was translated by Linda Qin, the CEO of her company. 'We are ready to open the stores.' 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 didn't say why. This advertisement has not loaded yet, but your article continues below. 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 Osborne, but declined to offer further details. Osborne had advised her during the court session that parties aren't to communicate with the judge outside of the hearing. Finlayson didn't immediately respond to a request for comment. Osborne pressed Liu to find a lawyer in part because it will help her navigate The Bay's creditor protection case, which began in March, when the retailer admitted it was unable to cover bills and had no hope of finding lender support. This advertisement has not loaded yet, but your article continues below. A sales process uncovered no one willing to buy the business, so it liquidated all 80 of its stores and 16 Saks locations. The company got 12 bids for 39 leases but chose Liu to buy 28 because the terms she offered were 'the most favourable.' A copy of the agreement she entered with The Bay was given to the court over the weekend but sealed. Prior filings, however, show Liu made a deposit of $9.4 million, which would equate to a purchase price of $94 million for 25 leases. A package prepared by Liu's former lawyers and obtained by The Canadian Press in early June shows she told landlords she could open stores within 180 days of receiving leases and would pour millions into rehabilitating properties. Landlords almost immediately panned her plans, saying she doesn't have the suppliers, financing or retail management experience to run a department store. This advertisement has not loaded yet, but your article continues below. Bay lawyer Ashley Taylor told Osborne there has since been 'an ongoing dialogue' between Liu and stakeholders. David Bish, who represents Cadillac Fairview, disagreed and said the landlords remain 'deeply concerned.' 'This is the hill to die on for landlords,' Bish said. To aid in The Bay's wind-down, Restore wants the court to appoint a 'super-monitor' to subject the department store chain to even more oversight. If the court doesn't agree, Restore suggests appointing Richter Consulting Inc. as a receiver. The Bay argued it doesn't need more oversight because it's properly governed. It maintains the Liu deal is the best shot it has at recovering more cash for creditors. Pathlight Capital LP, one of The Bay's other lenders, supports the Liu transaction but won't finance the extra time it could take to close the deal. Meanwhile, the monitor said more oversight may be appropriate at some point. It's prepared to step up, when necessary. Its report also revealed The Bay has several other lease deals in the works. One has been reached with a landlord wanting to buy its own lease for less than $250,000. Another is with an unnamed party wanting seven leases. Read More NFL Editorial Cartoons Toronto & GTA Toronto & GTA Columnists
The Province
15-07-2025
- Business
- The Province
Hudson's Bay hearing on lease deal adjourned as B.C. billionaire Ruby Liu appears without lawyer
Judge Peter Osborne adjourned the Tuesday hearing, telling Liu "I not only urge but recommend in the strongest terms" that she hire a lawyer to represent her and her plans to buy the leases. Published Jul 15, 2025 • Last updated 19 minutes ago • 4 minute read B.C. billionaire Ruby Liu and her bid to buy up to 25 Hudson's Bay leases was due to come under further scrutiny in court Tuesday — but the battle was waylaid when she showed up with no lawyer or materials to aid in making her case. Photo by Richard Lam / PNG B.C. billionaire Ruby Liu and her bid to buy up to 25 Hudson's Bay leases was due to come under further scrutiny in court Tuesday — but the battle was waylaid when she showed up with no lawyer or materials to aid in making her case. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Judge Peter Osborne adjourned the hearing 'for a short period of time,' telling Liu 'I not only urge but recommend in the strongest terms' that she hire a lawyer to represent her and her plans to buy the leases. 'There are significant concerns being expressed about those plans, so it is important for me to hear from you fully about what those plans are,' he said. Liu signed deals with the Bay in May to buy up to 28 leases in Alberta, B.C. and Ontario belonging to the defunct retailer and its sister banner Saks. She planned to use the properties to open a department store named after herself. Three of the spaces in B.C. malls she owns were transferred to her last month after receiving court approval. The Bay has yet to seek that assent for up to 25 more in properties held by other landlords, who are overwhelmingly opposed to Liu moving in because they say she's yet to provide detailed business plans. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Documents filed in the lead up to Tuesday's hearing in Ontario Superior Court, showed Bay lender Restore Capital LLC and its affiliate Hilco Global were due to join the opposition. Restore, part of a group that loaned the Bay $151.4 million, planned to ask Osborne to terminate the retailer's 25-lease deal because it is 'uneconomical and imprudent.' The longer the Bay goes without landlord or court approval, the more Restore's collateral is being 'frittered away,' the firm said. Alvarez & Marsal, the monitor previously appointed to guide the court process, estimated it's costing at least $4.7 million in rent, property taxes, utilities and other fees each month that the Liu deal goes unapproved. In a filing made just after midnight on Tuesday, it said it wrote to Liu repeatedly reminding her of her obligations and seeking information that could be used to get the court to assign her the leases without landlord approval. This advertisement has not loaded yet, but your article continues below. The monitor said Liu has 'not meaningfully responded,' provided landlords with more information that might get them onside or even taken 'the most basic and necessary steps' to advance her bid. Liu previously provided landlords with information about her plans and believes they will welcome her if a court assigns her the leases. 'We will work closely with HBC and have already hired experts,' Liu told Osborne on Tuesday, speaking in Mandarin that was translated by Linda Qin, the CEO of her company. 'We are ready to open the stores.' 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. This advertisement has not loaded yet, but your article continues below. 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 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. Finlayson did not immediately respond to a request for comment. Osborne pressed Liu to find a lawyer in part because it will help her navigate the Bay's creditor protection case, which began in March, when the retailer admitted it was unable to cover bills and had no hope of finding lender support. This advertisement has not loaded yet, but your article continues below. A sales process uncovered no one willing to buy the business, so it liquidated all 80 of its stores and 16 Saks locations. The company got 12 bids for 39 leases but chose Liu to buy 28 because the terms she offered were 'the most favourable.' A copy of the agreement she entered with the Bay was given to the court over the weekend but sealed. Prior filings, however, show Liu made a deposit of $9.4 million, which would equate to a purchase price of $94 million for 25 leases. A package prepared by Liu's former lawyers and obtained by The Canadian Press early June shows she told landlords she could open stores within 180 days of receiving leases and would pour millions into rehabilitating properties. Landlords almost immediately panned her plans, saying she doesn't have the suppliers, financing or retail management experience to run a department store. This advertisement has not loaded yet, but your article continues below. Bay lawyer Ashley Taylor told Osborne there has since been 'an ongoing dialogue' between Liu and stakeholders. David Bish, who represents Cadillac Fairview, disagreed and said the landlords remain 'deeply concerned.' 'This is the hill to die on for landlords,' Bish said. To aid in the Bay's wind down, Restore wants the court to appoint a 'super monitor' to subject the department store chain to even more oversight. If the court doesn't agree, Restore suggests appointing Richter Consulting Inc. as a receiver. The Bay argued it doesn't need more oversight because it's properly governed. It maintains the Liu deal is the best shot it has at recovering more cash for creditors. Pathlight Capital LP, one of the Bay's other lenders, supports the Liu transaction but won't finance the extra time it could take to close the deal. Meanwhile, the monitor said more oversight may be appropriate at some point. It's prepared to step up, when necessary. Its report also revealed the Bay has several other lease deals in the works. One has been reached with a landlord wanting to buy its own lease for less than $250,000. Another is with an unnamed party wanting seven leases. Read More Crime Food News Sports Betting Local News
Globe and Mail
03-06-2025
- Business
- Globe and Mail
Hudson's Bay employees who lost jobs can apply for federal support, court rules
The Ontario Superior Court has granted approval for thousands of Hudson's Bay Co. employees who have lost their jobs to seek support under the federal government's Wage Earner Protection Program. The court decision on Tuesday triggers an entitlement to federal benefits for the retailer's former staff. More than 8,300 Bay employees have now been terminated without severance pay. The court hearing occurred just two days after Canada's oldest retailer completed its liquidation sales, closing its doors for the final time over the weekend. 'That's a milestone, albeit an unhappy one,' Ontario Superior Court Justice Peter Osborne said during Tuesday's hearing. While discussing the end of the Bay's liquidation, he remarked, 'The end of an era.' Lawyers appointed to represent the Hudson's Bay employees are now in discussions with Service Canada to develop a timeline for employees to access those federal benefits. 'We know they want it as soon as possible,' Susan Ursel of Ursel Phillips Fellows Hopkinson LLP said at the hearing. Also on Tuesday, the court approved a motion from RioCan Real Estate Investment Trust to place a joint venture it co-owns with Hudson's Bay into receivership. The joint venture gives RioCan a stake in 12 properties where Bay stores were located, including buildings in downtown Montreal, Vancouver, Calgary and Ottawa, and locations in high-profile malls such as Yorkdale and Scarborough Town Centre in Toronto. FTI Consulting Canada Inc. will act as receiver for the companies that fall under the joint venture. A third matter before the court on Tuesday was an application to approve Canadian Tire Corp.'s $30-million deal to acquire Hudson's Bay's intellectual property. That approval is needed to transfer ownership of a trove of the historic retailer's brand names, logos, and stripe design dating back to the point blankets used in the fur trade in the 18th century. Justice Osborne stood down that matter on Tuesday, saying that he wanted to consider some specific matters related to the deal. In particular, he questioned lawyers for Hudson's Bay about the inclusion of the trademark for the company's 1670 Royal Charter. The charter itself is part of a separate auction of the Hudson's Bay art and artifacts collection, which has yet to occur. The process for that auction is still in development. It is important that the deal does not allow Canadian Tire to prevent others from calling the document 'the royal charter,' or advertising it as such, Justice Osborne said during Tuesday's hearing. Ashley Taylor, a lawyer with Stikeman Elliott LLP representing Hudson's Bay, told the court on Tuesday that there was no opposition to the Canadian Tire deal, which was reached after 'a robust' sales process. Reflect Advisors LLC, the financial adviser handling that process, initially sent out materials related to the sale to 407 parties considered potential bidders, and received a total of 17 bids. Hudson's Bay had been seeking a going-concern transaction to keep alive the operations of at least some of the stores. The company pitched a plan to potential buyers or investors, proposing a turnaround of six Bay stores that had initially been left out of liquidation, as well as the e-commerce operations, according to a confidential memorandum prepared by Hudson's Bay in March, a copy of which was obtained by The Globe and Mail. That plan would have required $82-million in investment in the first year, according to the document. No such buyer or investor emerged.
Yahoo
13-05-2025
- Business
- Yahoo
Hudson Bay gets court approval to extend creditor protection to July 31
An Ontario court has extended an order that protects Hudson's Bay Co. ULC from its creditors until July 31, giving Canada's oldest department store more time to pay back what it owes. 'The extension to the end of July is appropriate and will certainly be necessary given the steps that remain,' said Judge Peter Osborne, who has been hearing the case at the Ontario Superior Court of Justice in Toronto since March 7. The 355-year-old company first went to court on March 7 to seek protection under the Companies' Creditors Arrangement Act (CCAA). The application was granted by the court that same day, and the stay order was eventually extended till May 15. HBC has been trying to raise money by liquidating its stores, auctioning its artifacts, monetizing its leases and selling its intellectual property (IP) to pay back about $1 billion to its creditors since March. The deadline to bid for the company and its IP ended April 30, and bids for leases had to be made by May 1. HBC received bids from 17 parties for either the company's IP, such as its brand name, or its leases. The company hasn't said who made the bids, but they are currently being reviewed. Deals have to seek court approval by May 30, according to court documents. The extension of the stay period 'is necessary and appropriate' to provide (HBC) 'the ability to complete the liquidation process, lease monetization process and SISP process, to maximize value for the benefit of the applicants and their stakeholders,' a court document filed by HBC's lawyers on May 7 said. Urbana Corp., a Toronto-based investment firm with about $500-million worth of assets, in April said it had placed a bid to purchase HBC's brand name and the Royal Charter, a historical document that gave the company exclusive trading rights over a portion of Canada in 1670. Media reports also suggested Canadian Tire Corp. Ltd. and a Vancouver-based billionaire are potential bidders. The court also approved HBC's request to pay back about $165 million to some of its senior lenders. 'I think that those distributions should be made,' Osborne said. 'They're clearly, obviously sought by those lenders and, in my view, they're beneficial to the estate as well, given the interest that continues to accrue on these not insignificant amounts and that will be reduced by these paydowns.' HBC's lawyer, Ashley Taylor, said he expects the company to return to court in about two weeks' time for the approval of 'one or more transactions.' The company's representatives are having discussions with various parties, including government officials, about the art collection it is trying to sell. Some groups have expressed concerns about the auction since HBC possesses artifacts that represent important milestones in Canadian history, including the Royal Charter. Hudson's Bay has received 'several' bids, but none from insiders, court documents show Howard Levitt: Stiffing employees is a blight on Hudson's Bay legacy Taylor said a large number of parties were given access to the list of artifacts in order to 'see and inspect' them. He also said many of the artifacts had already been donated to the Museum of Manitoba, 'particularly the more cultural, the significant and sensitive artifacts.' • Email: nkarim@
