Big tobacco companies reach tentative settlement with Canada

  • 📰 AP
  • ⏱ Reading Time:
  • 49 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 72%
  • Publisher: 51%

Canada Nouvelles

Quebec,Quebec City,General News

Three large tobacco companies would pay nearly $24 billion to settle a long-running legal battle in Canada. That's according to a proposed deal.

South Korean intelligence says North has sent troops to aid Russia's war in UkraineTexas was about to execute Robert Roberson.

Philip Morris International said Friday that a court-appointed mediator had filed the proposed settlement with its Canadian affiliate, Rothmans, Benson & Hedges, over tobacco product-related claims and litigation in Canada. Similar deals were also filed covering JTI-Macdonald Corp. and Imperial Tobacco Canada Ltd.

“After years of mediation, we welcome this important step towards the resolution of long-pending tobacco product-related litigation in Canada,” Philip Morris International’s CEO Jacek Olczak said in a statement. The three tobacco companies had sought creditor protection in Ontario in early 2019 after they lost an appeal in a landmark court battle in Quebec.

The Canadian Press reported that under the $32.5 billion Canadian dollar deal, Canadian provinces and territories would get a combined CN$24.8 billion; members of the class action would get CN$4.25 billion; Canadian victims from provinces outside Quebec would receive CN$2.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 728. in BE

Belgique Dernières Nouvelles, Belgique Actualités