Ontario · CCAA
Exhibits to Affidavits filed by Quebec Class Action Plaintiffs .pdf
Affidavit · 28 March 2019
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing1 verified
- unsecured creditorsnote: Ceiling, not a stated balance. Press release 'JTI-Macdonald Corp. Granted Court Protection' (PDF p.7, dated Mar 8, 2019) states the company was 'liable for up to $1.77 billion of the total and shared industry liability of $13.5 billion' following the Quebec Court of Appeal's March 1, 2019 judgment. Solidary (joint and several) liability with Imperial Tobacco Canada Ltd. and Rothmans, Benson & Hedges Inc.; the underlying Riordan trial judgment (May 27, 2015) condemned the three companies solidarily for up to ~$15.5 billion including interest and additional indemnity (French 'Demande de retrait de cautionnements', PDF p.10). This is the litigation liability that triggered JTI's CCAA filing. Exhibit-volume document; no statement of affairs or balance sheet for JTI is stated. Separately, co-defendants ITL and RBH posted security into court (ITL 757,995,000; RBH 225,996,000; $984M aggregate, PDF pp.10-11, 20) - those are the co-defendants' court deposits, not JTI's own debt or security. · page: 7 · as of: 2019-03-01 · basis: Blais/Letourneau class action damages judgment, affirmed by the Quebec Court of Appeal (per JTI-Macdonald press release exhibit) · debtor: JTI-Macdonald Corp. · creditor: Quebec Class Action Plaintiffs (Conseil quebecois sur le tabac et la sante; Jean-Yves Blais; Cecilia Letourneau classes) · currency: CAD