Ontario Court to Review Tobacco Companies' Settlement Proposal: $32.5 Billion at Stake | News 99

Ontario Court to Review Tobacco Companies' Settlement Proposal: $32.5 Billion at Stake | News 99

The Ontario court has scheduled a review for December 12 regarding a settlement proposal involving tobacco companies and their creditors, including provincial governments and two class action plaintiffs from Quebec. The proposal suggests payments of $24 billion to provinces and over $4 billion to Quebec smokers. JTI Macdonald Corp has deemed the proposal unfeasible and requested modifications. Approval requires a creditor vote and court consent. This settlement follows five years of negotiations that saw the companies seek creditor protection due to legal issues.

Stay updated with NEWS 99, your premier source for International news, Canadian news, and US headlines. We deliver the latest news, in-depth analysis, and exclusive reports to keep you informed about the events that matter most.

🔔 Subscribe now and hit the bell icon to receive timely updates on breaking news, global affairs, and more!

Connect with Us:

🌐 Website: www.news99.tv
👍 Facebook: facebook.com/news99networkhd

News 99 | News99 | News 99 HD Official | News99 Digital | News 99 Urdu | International News 99 | Canadian News 99 | News 99 Canada | Global News 99 | News 99 Headlines | News 99 Bulletin

#news99 #OntarioCourt #TobaccoSettlement #JTIMacdonald #CreditorProtection #LegalIssues #ClassAction #QuebecSmokers #DebtSettlement #TobaccoIndustry #CourtReview #FinancialNews #CorporateLaw #Negotiations #SettlementProposal