TORONTO — Creditors of three major tobacco companies will get the chance to weigh in on a proposed multi-billion-dollar settlement in December.
An Ontario court has approved a motion that would see representatives for the creditors, which include provincial governments and plaintiffs in two Quebec class-action lawsuits, review and vote on the proposal on Dec. 12.
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. Several of the other parties argued Thursday that JTI-Macdonald Corp.'s concerns should be raised and addressed later in the process.
"RBH has not agreed to the proposed plan with the allocation issue unresolved," the company said in the document. Other payments laid out in the proposal include more than $2.5 billion for smokers in other provinces and territories who were diagnosed with smoking-related illnesses over a four-year period, and more than $1 billion for a foundation to help detect and prevent tobacco-related diseases.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vancouver’s West Fraser Timber posts third quarter lossWest Fraser notes US$32 million paid in American softwood lumber duties
Read more »
Vancouver’s West Fraser Timber posts third quarter lossWest Fraser notes US$32 million paid in American softwood lumber duties
Read more »
Creditors to vote on proposed $32.5B tobacco settlement in DecemberTORONTO — Creditors of three major tobacco companies will get the chance to weigh in on a proposed multi-billion-dollar settlement in December.
Read more »
Creditors to vote on proposed $32.5B tobacco settlement in DecemberTORONTO — Creditors of three major tobacco companies will get the chance to weigh in on a proposed multi-billion-dollar settlement in December.
Read more »
Creditors to vote on proposed $32.5B tobacco settlement in DecemberTORONTO — Creditors of three major tobacco companies will get the chance to weigh in on a proposed multi-billion-dollar settlement in December.
Read more »
Toronto FC captain Jonathan Osorio making a difference off the pitch as well as on itTORONTO — Toronto FC captain Jonathan Osorio is making a difference, 4,175 kilometres away from home.
Read more »