Newspaper article The Canadian Press

Tobacco Firm JTI-Macdonald Obtains Creditor Protection after Quebec Court Ruling

Newspaper article The Canadian Press

Tobacco Firm JTI-Macdonald Obtains Creditor Protection after Quebec Court Ruling

Article excerpt

JTI-Macdonald obtains creditor protection

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MISSISSAUGA, Ont. - JTI-Macdonald Corp. says it's been granted creditor protection following a Quebec Court of Appeal decision upholding a landmark judgment ordering it and two other companies to pay billions of dollars in damages to Quebec smokers.

The tobacco firm says the protection under the federal Companies' Creditors Arrangement Act (CCAA) will allow it to continue its business activities while it's liable for up to $1.77 billion to smokers who fell ill or were addicted.

Imperial Tobacco, JTI-Macdonald and Rothmans-Benson & Hedges had appealed a ruling that found the companies chose profits over the health of their customers.

In June 2015, Quebec Superior Court Justice Brian Riordan ordered the companies to make payments of more than $15-billion to smokers. …

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