Double Trouble: Our fear of escalation makes the West look weak
Double Trouble: Our fear of escalation makes the West look weak
Commodities as weapons: How Russia’s natural resources are fuelling its imperialistic aggression against the West

Tobacco giant opposes Canadas proposed smoking settlement over critical issues – National [Video]

Categories
Ontario News

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 document was filed ahead of a hearing scheduled Thursday to set the next step for the proposed plan of arrangement presented on Oct. 17.

The proposal would see the three companies — JTI-Macdonald Corp., Rothmans, Benson & Hedges and Imperial Tobacco Canada Ltd. — pay $24 billion to provinces and territories and more than $4 billion to tens of thousands of Quebec smokers and their heirs.

Before it can be implemented, the proposed plan must be voted on by creditors, which include plaintiffs in two class-action lawsuits in Quebec as well as provincial governments seeking to recover smoking-related health costs. It must also be approved by the court.

Is Canada winning the fight against crime?: Peter Copeland and Dave Snow
Is Canada winning the fight against crime?: Peter Copeland and Dave Snow
What Canada can learn from Irish prosperity: Trevor Tombe in the Hub