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A proposed deal that would see three tobacco giants pay out billions to provinces and territories, as well as smokers across Canada, has been approved by the companies’ creditors, a lawyer representing some of the creditors says, calling it an important milestone in a lengthy legal saga. The proposed $32.5-billion …
Read More »Tobacco firm opposes proposed $32.5B settlement with provinces, smokers, court documents say
One of three major tobacco companies involved in years of negotiations with creditors says it opposes the proposed multi-billion-dollar settlement announced in the case earlier this month. JTI-Macdonald Corp. has filed a document with an Ontario court indicating it does not support the proposal due to “critical outstanding issues.” The …
Read More »Tobacco giants would pay out $32.5B to provinces, smokers in ‘historic’ proposed deal
Three tobacco giants are proposing to pay close to $25 billion to provinces and territories and more than $4 billion to tens of thousands of Quebec smokers and their loved ones as part of a corporate restructuring process triggered by a long-running legal battle. A proposed plan of arrangement was …
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