Some observers criticized the creditor protection calling it an attempt to avoid making payments
Philip Morris International Inc on Friday said its Canadian unit, Rothmans, Benson & Hedges Inc , was granted creditor protection, following a tobacco class action ruling in Quebec this month.
The Court of Appeal of Quebec upheld the bulk of a 2015 decision that awarded about $15 billion to smokers in the Canadian province, a blow to several big tobacco companies, including RBH.“The company’s strategy is to obtain a sweetheart settlement of all tobacco lawsuits in Canada, and then to carry on business as normal,” said Rob Cunningham, senior policy analyst from the Canadian Cancer Society.
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