BAT Canada gets court protection from creditors after losing smoking case

📆 3/13/2019 2:15 PM
📰 BDliveSA

⏱ Reading Time:
32 sec. here
2 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 63%

Law Law Headlines News

Law Law Latest News,Law Law Headlines

The decision lets Imperial Tobacco continue operating its businesses normally, and follows a similar move by Japan Tobacco’s JTI-Macdonald unit last week

British American Tobacco’s Canadian unit won court protection from creditors, becoming the second major tobacco company to seek relief after a legal defeat over the risks of smoking.

Imperial Tobacco Canada said its share of the judgment amounts to as much as C$9.2bn. The company said if it had not obtained court protection, it could have been required to pay all or part of JTI-Macdonald’s share in addition to its own. Analysts had warned that if Big Tobacco loses the Quebec cases, it could bankrupt the industry in Canada. The case stems from litigation originally filed in 1998, and involved the first damages against the industry in Canada. The lawsuits were in favour of smokers seeking damages for addiction and smoking-related diseases, who argued they were never warned of the risks.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Justin Trudeau’s political future under threat in CanadaHe is accused of pressuring a minister to help construction firm SNC-Lavalin avoid a criminal trial
Source: BDliveSA - 🏆 12. / 63 Read more »

Saudi Arabia rebuked at UN rights forum over jailings and Khashoggi probeAction by EU, Canada and Australia follows growing international concern about country’s violations of basic freedoms
Source: BDliveSA - 🏆 12. / 63 Read more »