JTI-Macdonald Opposes $32.5 Billion Tobacco Settlement Over Unresolved Issues

The proposed settlement requires approval from creditors and the court, but faces opposition from one of the involved tobacco firms.

JTI-Macdonald Corp. has filed a court document opposing the proposed settlement, citing 'critical outstanding issues' that need resolution.
The settlement plan involves three tobacco companies paying $24 billion to provinces and $4 billion to Quebec smokers and their heirs.
Rothmans, Benson & Hedges acknowledges the need to resolve allocation issues before fully agreeing to the settlement terms.
The proposed deal, reached through mediation, lacks specifics on each company's share of the financial burden.
The settlement follows over five years of negotiations amid legal battles and corporate restructuring efforts.