RioCan Real Estate Investment Trust has initiated a receivership process for its joint venture with Hudson's Bay Company to safeguard and optimize the value of their assets. The Ontario Superior Court of Justice has appointed FTI Consulting Canada Inc. as the receiver, tasked with managing the JV's assets independently from Hudson's Bay Company's ongoing Creditors Arrangement Act proceedings. This structured process will focus on asset dispositions, re-leasing, and redevelopment opportunities. The receivership ensures the JV's properties are protected while allowing RioCan and stakeholders to strategize on maximizing asset value.
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