British American Tobacco's Canadian subsidiary, ITCAN, said the filing of the court-appointed mediator's and monitor's plan of compromise and arrangement in the Ontario Superior Court of Justice marks an important step towards a potential settlement of its outstanding tobacco litigation. In March 2019, Imperial Tobacco Canada obtained creditor protection under the Canadian Companies' Creditors Arrangement Act.
"The plan resolves all Canadian tobacco litigation and provides a full and comprehensive release to Imperial, BAT and all related entities for all tobacco claims. This settlement will be funded by the cash on hand and the cash generated from the future sale of tobacco products in Canada while at the same time maximizing recovery for the creditors," ITCAN, stated.
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Business News
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.