Imperial Tobacco, Japan Tobacco and Rothman, Benson & Hedges (the “Tobacco Companies”) each filed for protection under the Companies’ Creditors Arrangement Act as a result of hundreds of billions of dollars of litigation claims that they are unable to satisfy, including claims by all Canadian provinces and territories.
KSV is the financial advisor to a consortium of seven provinces and territories comprised of British Columbia, Saskatchewan, Manitoba, Prince Edward Island, Nova Scotia, New Brunswick and the Northwest Territories. KSV is working with legal counsel to facilitate a global resolution of all the claims against the Tobacco Companies. In performing its mandate, KSV has conducted a thorough review of the historical performance of the Tobacco Companies and has performed extensive diligence on their long-term viability. KSV's analyses and review is integral to the settlement process. These CCAA proceedings are ongoing and KSV is actively involved in the settlement process.