British American Tobacco (GB:BATS) has released an update.
British American Tobacco’s Canadian subsidiary, Imperial Tobacco Canada, has taken a significant step towards resolving its tobacco litigation by filing a plan of compromise and arrangement in the Ontario Superior Court. This proposed settlement, which aims to resolve all tobacco-related claims, will be funded by current and future tobacco sales in Canada, allowing the company to continue operations and maximize creditor recovery. Both BAT and ITCAN are optimistic about reaching a final agreement that benefits all stakeholders involved.
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