Imperial Tobacco Canada Ltd. is pushing back against proposed changes to a major $32.5-billion settlement agreement, arguing that revisions by Rothmans, Benson & Hedges made too late in the process are unacceptable. The company insists the court must either approve the existing deal or return it to the drawing board, emphasizing the need for a swift decision.
TORONTO — Imperial Tobacco is rejecting what it says are major changes to a landmark $32.5-billion settlement that would see it and two other tobacco companies compensate provinces, territories and ex-smokers in Canada .
"It could have taken a different path and they didn't," Glendinning said of RBH."Chief justice, you have one decision to make: approve this plan, which we fully support … or reject this plan and send us all back to the beginning." Glendinning told the court the only thing the judge has to decide is whether the proposed plan is fair and reasonable.
The proposed deal includes more than $24 billion for the provinces and territories to settle lawsuits they brought against the companies for health-related costs due to tobacco use and $4 billion for plaintiffs in two class-action lawsuits heard in Quebec. Another $2.5 billion is earmarked for Canadian smokers not included in the Quebec lawsuits, and more than $1 billion would go to a foundation to fight tobacco-related diseases.
TOBACCO SETTLEMENT IMPERIAL TOBACCO ROTHMANS BENSON & HEDGES CANADA LITIGATION
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