Ontario court extends order suspending legal proceedings against three tobacco companies [Toronto Globe and Mail (Ontario, Canada)]
JAPAN TOBACCO UNSP/ADR (JAPAY)
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Source: Toronto Globe and Mail
Ontario court extends order suspending legal proceedings against three tobacco companies An Ontario court has extended an order suspending legal proceedings against three major tobacco companies as they try to negotiate a settlement with their creditors. Ontario Superior Court Justice Thomas McEwen told a Toronto court this morning there would be “no prejudice to any stakeholder” from extending the stay to Sept. 30. The extension was requested by the companies – JTI-Macdonald Corp., Rothmans, Benson & Hedges and Imperial Tobacco Canada Ltd. – and was not opposed by any of the parties. The stay was previously set to expire next month. A lawyer for Imperial Tobacco said the longer timeline is necessary for the mediation efforts to progress, and noted “significant developments” have already taken place. The order to suspend legal proceedings against the three tobacco giants was first granted nearly a year ago after the companies lost an appeal in a landmark class-action lawsuit in Quebec
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