The decision lets Imperial Tobacco continue operating its businesses normally, and follows a similar move by Japan Tobacco’s JTI-Macdonald unit last week
British American Tobacco’s Canadian unit won court protection from creditors, becoming the second major tobacco company to seek relief after a legal defeat over the risks of smoking.
Imperial Tobacco Canada said its share of the judgment amounts to as much as C$9.2bn. The company said if it had not obtained court protection, it could have been required to pay all or part of JTI-Macdonald’s share in addition to its own. Analysts had warned that if Big Tobacco loses the Quebec cases, it could bankrupt the industry in Canada. The case stems from litigation originally filed in 1998, and involved the first damages against the industry in Canada. The lawsuits were in favour of smokers seeking damages for addiction and smoking-related diseases, who argued they were never warned of the risks.
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