Company Overview of Imperial Tobacco Canada Limited
Imperial Tobacco Canada Limited, a tobacco company, engages in the production and distribution of tobacco products to retailers in Canada. It offers cigarettes. The company was founded in 1908 and is based in Montreal, Canada. Imperial Tobacco Canada Limited operates as a subsidiary of British American Tobacco p.l.c.
3711 Saint-Antoine Street
Montréal, QC H4C 3P6
Founded in 1908
Key Executives for Imperial Tobacco Canada Limited
Chief Financial Officer, Vice President and Director
Vice President of Operations
Vice-President of Law and General Counsel
Vice President of Corporate & Regulatory Affairs and Assistant Secretary
Compensation as of Fiscal Year 2016.
Imperial Tobacco Canada Limited Key Developments
Imperial Tobacco Canada Wins Motion to Cancel Provisional Execution in $15.6 Billion Class Action Against Tobacco Industry
Jul 23 15
Imperial Tobacco Canada welcomes unanimous decision by the Quebec Court of Appeal to accept the company's motion to cancel the provisional execution order that would have required three tobacco companies to pay in excess of $1 billion in a $15.6-billion ruling against the tobacco industry. On May 27, 2015, a Quebec judge ordered three major cigarette companies to pay $15.6 billion in what is believed to be Canada's large class-action lawsuit. The company was levied 67% of the award ($10.5 billion). The judgment demanded payment of more than $1 billion from the three companies within 60 days, even while appealing the Superior Court's decision. The next step in the process will see Imperial Tobacco Canada finalize its appeal on the merits and present its arguments before the Quebec Court of Appeal. The company believes it has strong grounds for its appeal and is confident that the eventual outcome will recognize its position.
Quebec Superior Court Issues Judgment in Class Action Lawsuits of Philip Morris International and Imperial Tobacco Canada
Jun 2 15
The judgment in two Canadian class action lawsuits has been publicly issued at the Quebec Superior Court in Canada on 1st June 2015 following a private release which was made on 27th May 2015. The judgment follows a ten year legal challenge against British American Tobacco's Canadian subsidiary, Imperial Tobacco Canada as well as Philip Morris International and Japan Tobacco International's Canadian subsidiaries. On 1st June 2015, the judge publicly issued a ruling in favor of the Plaintiffs awarding a total of CAD 15.6 billion in moral and punitive damages, including interest. Imperial Tobacco Canada's share of the total damages would be CAD 10.4 billion. The judgment also stated that if an appeal was to be made, a provisional execution order would require the defendants to pay CAD 1.131 billion between them. Imperial Tobacco Canada's share of the provisional execution order would be CAD 743 million.
Imperial Tobacco Canada Limited Reaches Agreement in Principle to Settle Legacy Litigation with the Flintkote Company for USD 575 Million
Dec 19 14
Imperial Tobacco Canada Limited has reached an agreement in principle with The Flintkote Company for a total of USD 575 million for claims related to certain disputed dividends and existing and potential asbestos claims. The Flintkote case is a legacy litigation that began in 2006 and is completely unrelated to Imperial Tobacco Canada's tobacco activities. The 2006 litigation sought recovery from Imperial Tobacco Canada of certain dividends and other transfers received in 1986 and 1987 after Imasco acquired Genstar Corporation. The litigation also seeks to hold Imperial Tobacco liable for Flintkote's asbestos liabilities. The agreement in principle of the dividend claims and the asbestos related liabilities, brings this long running litigation to an end. Under the terms of the proposed settlement, Imperial Tobacco will obtain protection from current and potential future Flintkote related asbestos liability claims in the United States. The settlement agreement now provides closure on a legacy file, allowing Imperial Tobacco to focus on its current business by finally and completely resolving the existing Flintkote litigation and obtaining protections from potential future litigation related to Flintkote.
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