An Ontario court delayed a decision Tuesday on the Hudson’s Bay Company’s senior lenders’ request to scrap Ruby Liu’s remaining 25 lease acquisitions.

Judge Peter Osborne urged the B.C. billionaire to hire a lawyer to argue her case after she came to court without one and also did not bring details on her plans to use former Bay stores to create a new department-store chain, The Canadian Press reported.

The lenders through ReStore Capital, have formally asked the court to terminate Liu’s proposed agreement covering the 25 remaining leases of former Bay store spaces in B.C., Alberta and Ontario. ReStore contends that Canada’s oldest company has incurred millions of dollars in needless, unexpected expenses as it seeks to ensure that landlords accept a doomed lease-transfer agreement with Liu.

Most of the landlords (23 of 25) oppose the proposed deal and plan to fight any court action forcing them to accept it.

But Michael Culhane, the Bay’s chief operating officer and CFO, said a recent court filing that the lenders group should not have been surprised by expenses that the Bay has incurred as it proceeds through creditor protection. He also blamed Hilco, the parent of ReStore, for at least part of the iconic department-store chain’s plight and called for the proposed deal with Liu to proceed.

Liu has already secured three leases for $6 million covering former Bay stores in B.C. malls tht she owns. The lenders have formally asked the court to terminate Liu’s proposed agreement covering the 25 remaining leases of former Bay spaces in elsewhere in B.C., Alberta and Ontario.

Restore also wants the court to appoint a new super-monitor by expanding the responsibilities of existing court monitor Alvarez & Marsal.

Osborne told Liu that it is important for him to hear about her plans due to “significant concerns” being expressed about them, CP reported.

Osborne also advised Liu that the court will have to consider whether Alvarez & Marsal supports the deal, The Globe and Mail reported. The court monitor’s position is considered a key factor in the court’s final decision, insolvency experts have stated.

All Bay stores and Saks-branded outlets in Canada closed June 1.

Pictured: Hudson’s Bay Company sign on a then-open Toronto store.

Photo: Shutterstock