Tobacco company gets protection from creditors
Tobacco company J-T-I-Macdonald says it's been granted creditor protection.
It comes after a Quebec Court of Appeal decision upholding a landmark judgment ordering it and Imperial Tobacco and Rothmans-Benson & Hedges to pay billions of dollars in damages to Quebec smokers.
The tobacco firm says the protection will allow it to continue its business activities while it's liable for up to 1.77-billion dollars to smokers who fell ill or were addicted.
J-T-I-Macdonald says it took the legal step to protect 500 Canadian jobs.
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