By: Jassmine Girgis
Matter Commented On: Insolvency Proceedings of Hudson’s Bay Co.
PDF Version: Hudson’s Bay in Insolvency Proceedings: Employees’ Severance Payments & Directors’ Retention Bonuses
Hudson’s Bay Co. (Hudson’s Bay), founded in 1670, is the oldest company in North America. It is now, unfortunately, insolvent, and has obtained protection from its creditors under Canada’s restructuring legislation, the Companies’ Creditors Arrangement Act, RSC 1985, c C-36 (CCAA) (see In Re Hudson’s Bay Company, 2025 ONSC 1530 (Re Hudson’s Bay)).