Imperial Tobacco Canada Obtains Creditor Protection

Davies is acting for FTI Consulting Canada Inc. in its capacity as court-appointed monitor of Imperial Tobacco Canada Limited and its affiliated corporation, Imperial Tobacco Company Limited, in proceedings under the Companies' Creditors Arrangement Act and Chapter 15 of the U.S. Bankruptcy Code.

Imperial filed for protection amidst ongoing litigation claims across Canada, including a Québec Court of Appeal judgment holding the industry liable to pay a maximum of $13.6 billion in damages to Québec class action plaintiffs. The protection will allow the company to operate in the normal course while it seeks to resolve the billions of dollars’ worth of tobacco-related claims it is currently facing, including numerous class actions in various provinces and provincial government health care cost recovery actions.

The Davies team working on the restructuring is being led by Jay Swartz, Robin Schwill, and Natasha MacParland.


Canadian Government’s Proposed Extension of Time Limits Due to COVID-19

May 27, 2020 - As part of the federal government’s response to the COVID-19 pandemic, the Department of Finance recently published a draft legislative proposal, the Time Limits and Other Periods Act (COVID-19) (Proposal), that, if implemented, would provide for an automatic six-month suspension of...