Share Name Share Symbol Market Type Share ISIN Share Description
BR.Amer.Tob. LSE:BATS London Ordinary Share GB0002875804 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -43.00p -1.39% 3,057.00p 3,056.50p 3,058.50p 3,143.00p 2,991.00p 3,100.00p 3,655,113 16:29:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Tobacco 24,492.0 8,351.0 264.0 11.6 65,144.47

BATs Subsidiary Granted Creditor Protection in Canada, Looks to Settle Litigation

13/03/2019 8:21am

Dow Jones News

British American Tobacco (LSE:BATS)
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   By Oliver Griffin 

British American Tobacco PLC (BATS.LN) on Wednesday said that its subsidiary Imperial Tobacco Canada Ltd. has been granted protection under the Companies' Creditors Arrangement Act.

Imperial Tobacco Canada filed for an initial order from the Ontario Superior Court of Justice after the Quebec Court of Appeal ruled that the tobacco industry in Canada was jointly and severally liable in a multi-billion-dollar class-action suit.

The initial order has the effect of staying all current tobacco litigation against Imperial Tobacco and other group companies in Canada, British American Tobacco said.

British American Tobacco said if Imperial Tobacco hadn't obtained court protection, it could have been liable to pay all of the damages under the Quebec Court of Appeal judgement.

The company said Imperial Tobacco will now look to resolve the judgement, as well as all other tobacco litigation in Canada under a court-supervised process while trading as normal.


Write to Oliver Griffin at; @OliGGriffin


(END) Dow Jones Newswires

March 13, 2019 04:06 ET (08:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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