Mediator proposes tobacco companies pay CAD 32.5 billion under Companies' Creditors Arrangement Act.

A mediator has proposed a plan to address tobacco-related claims in Canada under the Companies' Creditors Arrangement Act. The plan involves Philip Morris International's Canadian affiliate, Rothmans, Benson & Hedges, alongside other companies, paying a total of CAD 32.5 billion (about USD 23.5 billion). This settlement would be funded through upfront cash and annual payments based on net income. The allocation of the settlement among the companies is still under discussion.

October 18, 2024
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