Landmark $32.5-billion tobacco deal could see payouts to provincial health care systems [Globe and Mail, The (Toronto, Canada)]
JAPAN TOBACCO UNSP/ADR (JAPAY)
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Source: Globe and Mail, The
Three tobacco giants are set to pay out roughly $32.5 billion in a landmark deal that would settle decades of litigation with provinces and individual smokers and their families. The proposal, which involves JTI-Macdonald Corp., Rothmans, Benson & Hedges, and Imperial Tobacco Canada Ltd., is the result of a corporate restructuring process set off by a legal battle over the health effects of smoking. Here are five things to know about the proposed plan of arrangement, which has yet to be approved by claimants and the court. Where did this come from? In 1998, British Columbia became the first province to sue tobacco companies to recover health-care costs. All other provinces have since followed suit. Separately that same year, two Quebec class-action lawsuits were filed seeking damages for roughly 100,000 victims of lung and throat cancer and emphysema. A 2015 Quebec Superior Court decision ordered the three companies to pay $15.6 billion in damages. The companies lost an appea
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