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Market
Which tobacco company will pay the largest share in the Canadian settlement by end of 2025?
3
Resolution / Starting Odds
Philip Morris pays the most • 25%
BAT pays the most • 25%
JTI pays the most • 25%
Equal distribution among companies • 25%
Financial statements and press releases from Philip Morris, BAT, and JTI
Story
Philip Morris, BAT, JTI Units Propose $32.5B Historic Settlement in Canada Tobacco Litigation
Oct 18, 2024, 02:45 AM
Major tobacco companies, including Philip Morris, British American Tobacco, and Japan Tobacco International units in Canada, are set to pay $23.6 billion in a historic proposed settlement to resolve tobacco product-related claims and litigation. A court-appointed mediator has proposed the resolution plan under Canada's Companies' Creditors Arrangement Act (CCAA) after years of negotiations. The settlement aims to address numerous lawsuits filed by provinces and individuals seeking compensation for healthcare costs and damages linked to tobacco use. The total payout could reach up to $32.5 billion to Canadian provinces and smokers. British American Tobacco's shares fell 2.2% following the announcement, as the company indicated it is close to settling the litigation in Canada.
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Similar markets
British American Tobacco • 25%
Philip Morris International • 25%
Japan Tobacco Inc. • 25%
All equally impacted • 25%
Approved • 25%
Rejected • 25%
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Deferred • 25%
Equally distributed among all provinces • 25%
Based on population size • 25%
Based on healthcare costs • 25%
Other distribution method • 25%
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No significant change • 25%
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Improved • 25%
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Loblaw Companies Ltd. • 25%
George Weston Ltd. • 25%
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Indifferent • 25%