Hudson’s Bay is returning its former stores to landlords, effectively ending B.C. billionaire Ruby Liu’s fight to take over the collapsed retailer’s leases.
Franco Perugini, HBC's senior vice-president of real estate and legal, said in a Monday email to The Canadian Press that the company is disclaiming the leases it had for 25 properties Liu tried to buy.
A disclaimer is a legal mechanism that ends a lease before it expires and thus, releases the tenant from obligations like paying rent or maintaining the property
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