On Friday, the Canadian Court approved a settlement plan, as companies affiliated with three major tobacco companies, including Philip Morris and British -Taba, will pay 32.5 billion dollars (22.67 billion dollars).
The settlement addresses the lawsuits that claim that the Canadian units of these companies have been familiar with since the fifties of the last century of health risks and health risks posed by their products, but they failed to warn consumers adequately.
In 2019, the Quebec Court’s decision supported a ruling in 2015 to grant approximately $ 15 billion to 100,000 smokers in collective action claims against tobacco giants. This led to the Canadian subsidiaries-amino tobacco, JTI-Macdonald, Rothmans, and Benson & Hedges (RBH)-seeking to protect bankruptcy.
Canadian Philip Morris, RBH, will retain $ 750 million of pre -payment, with operational restrictions until the full settlement is paid. The plan, which resolves the objections, is expected to be implemented in 2025.
British American tobacco stated that the settlement will not affect its expectations for 2025.
