RioCan REIT asks court to put joint venture with Hudson's Bay into receivership: docs
TORONTO - RioCan Real Estate Investment Trust is pushing to put a joint venture it owned with Hudson's Bay into receivership.
A court filing from the real estate firm asks the Ontario Superior Court to appoint FTI Consulting Canada Inc. receiver of the companies that span the venture.
The filing says RioCan is pursuing a receivership because it thinks that is the best way to protect the venture's stakeholders and maximize value.
Receivers are empowered by courts to take control of a company's assets, oversee their liquidation and repay creditors.
The Hudson's Bay-RioCan venture was formed in 2015 and is made up of 12 properties the department store chain leases from the partnership.
Alvarez & Marsal, a monitor appointed by the court to guide the Bay through creditor protection, says in its own filing that a process to find buyers for Bay leases did not nab any bids for the joint venture or its properties.
This report by The Canadian Press was first published May 30, 2025.
Companies in this story: (TSX:REI-UN)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
Dream Residential REIT Announces Voting Results of Annual Meeting of Unitholders
TORONTO, June 03, 2025--(BUSINESS WIRE)--DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX:DRR.U and TSX: ("Dream Residential REIT" or the "REIT") announced that, at its annual meeting of unitholders (the "Meeting") held today, all of the nominees for election as trustees of the REIT (the "Trustees") referred to in its management information circular for the Meeting were elected. Votes cast on this matter were as follows: Nominee Votes For % Votes For Votes Withheld % Votes Withheld Leonard Abramsky 4,788,020 78.06 1,346,037 21.94 P. Jane Gavan 6,129,159 99.92 4,898 0.08 Fahad Khan 6,127,056 99.89 7,001 0.11 Brian Pauls 6,121,458 99.79 12,599 0.21 Vicky Schiff 6,129,257 99.92 4,800 0.08 At the Meeting, PricewaterhouseCoopers LLP was appointed auditor of the REIT and its subsidiaries for the ensuing year, and the Trustees were authorized to fix the remuneration of the auditor. Votes cast on this matter were as follows: Votes For % Votes For Votes Withheld % Votes Withheld PricewaterhouseCoopers LLP 6,263,646 99.96 2,250 0.04 About Dream Residential REIT Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit View source version on Contacts Dream Residential REITBrian Pauls Chief Executive Officer(416) 365-2365bpauls@ Derrick Lau Chief Financial Officer(416) 365-2364dlau@ Scott Schoeman Chief Operating Officer(303) 519-3020sschoeman@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 minutes ago
- Yahoo
Dream Unlimited Corp. Announces Voting Results of Annual Meeting of Shareholders
TORONTO, June 03, 2025--(BUSINESS WIRE)--DREAM UNLIMITED CORP. (TSX: DRM) ("Dream") announced that, at its annual meeting of shareholders (the "Meeting") held today, all of the nominees for election of directors of Dream (the "Board") referred to in its management information circular for the Meeting were elected. Votes cast on this matter were as follows: Nominee Votes For % Votes For Votes Withheld % Votes Withheld Michael Cooper 188,217,072 99.30 1,326,923 0.70 James Eaton 189,452,984 99.95 91,011 0.05 Joanne Ferstman 189,383,492 99.92 160,503 0.08 Richard Gateman 189,321,170 99.88 222,825 0.12 Jane Gavan 189,269,538 99.86 274,457 0.14 Duncan Jackman 183,001,359 96.55 6,542,636 3.45 Jennifer Lee Koss 189,381,150 99.91 162,845 0.09 Vincenza Sera 188,076,484 99.23 1,467,511 0.77 At the Meeting, PricewaterhouseCoopers LLP was appointed as the auditor of Dream and its subsidiaries for the ensuing year, and the Board was authorized to fix the remuneration of the auditor. Votes cast on this matter were as follows: Votes For % Votes For Votes Withheld % Votes Withheld PricewaterhouseCoopers LLP 189,952,485 99.94 109,318 0.06 At the Meeting, shareholders approved a resolution amending Dream's deferred share incentive plan to increase the number of deferred share units and income deferred share units that may be granted or credited under the plan by a further 300,000 units. Votes cast on this matter were as follows: Votes For % Votes For Votes Against % Votes Against Amendment to Deferred Share Incentive Plan 183,196,447 96.65 6,347,548 3.35 About Dream Unlimited Corp. Dream has an established and successful asset management business, inclusive of $28 billion of assets under management as at March 31, 2025 across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We are a leading developer of exceptional real estate assets across Canada and Europe, including income properties that will be held for the long term as they are completed. We also develop land for sale in Western Canada. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information, please visit our website at View source version on Contacts For further information, please contact: Dream Unlimited Corp. Meaghan PelosoChief Financial Officer(416) 365-6322mpeloso@ Kim LefeverDirector, Investor Relations(416) 365-6339klefever@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
9 minutes ago
- Business Wire
Dream Residential REIT Announces Voting Results of Annual Meeting of Unitholders
TORONTO--(BUSINESS WIRE)-- DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX:DRR.U and TSX: ('Dream Residential REIT' or the 'REIT') announced that, at its annual meeting of unitholders (the ' Meeting ') held today, all of the nominees for election as trustees of the REIT (the ' Trustees ') referred to in its management information circular for the Meeting were elected. Votes cast on this matter were as follows: At the Meeting, PricewaterhouseCoopers LLP was appointed auditor of the REIT and its subsidiaries for the ensuing year, and the Trustees were authorized to fix the remuneration of the auditor. Votes cast on this matter were as follows: About Dream Residential REIT Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit
