Tobacco Debt Still Steady Despite Suits

Albanese, Elizabeth
July 2004
Bond Buyer;7/16/2004, Vol. 349 Issue 31927, p1
Trade Publication
Reports that the performance of the tobacco bond market remains steady despite of lawsuits filed against tobacco manufacturer Philip Morris USA Inc. in the United States. Decision of plaintiffs who won a case against Phillip Morris to asked the Illinois Supreme Court to uphold the ruling; U.S. Department of Justice's case against Philip Morris; Amount to be paid by Phillip Morris to states under the 1998 Master Settlement Agreement (MSA); Risk associated with MSA repayment.


Related Articles

  • Philip Morris Faces Lawsuit By AGs If It Misses MSA Payment. Albanese, Elizabeth // Bond Buyer;4/7/2003, Vol. 344 Issue 31609, p6 

    Attorneys general from 46 states will send cigarette company Philip Morris USA Inc. a letter during early April 2003 stating their intention to file a lawsuit against the firm if a Master Settlement Agreement (MSA) payment due on April 15 is missed. The attorneys general will also file an amicus...

  • Tobacco Bonds Get Another Boost As High Court Lets Illinois Ruling Stand. Albanese, Elizabeth // Bond Buyer;11/28/2006, Vol. 358 Issue 32516, p35 

    The article presents information on a litigation, in which an Illinois court directed Philip Morris USA Inc. to pay $10.1 million to its plaintiffs. The U.S. Supreme Court also let the ruling stand. The plaintiffs are smokers, who were misled by the company's advertisement, which claimed that...

  • The Impact of a Tobacco Company Bankruptcy on MSA Bonds. Dubrow, David L. // Bond Buyer;7/28/2003, Vol. 345 Issue 31686, p33 

    Examines the impact of tobacco company Philip Morris Inc. bankruptcy on Master Settlement Agreement (MSA) bonds. Characterization of MSA bonds; Impact of bankruptcy filled by tobacco company on payments under MSA; Provisions under MSA.

  • Florida High Court to Weigh Tobacco Appeal. Albanese, Elisabeth // Bond Buyer;7/21/2004, Vol. 349 Issue 31930, p28 

    Reports on Philip Morris USA Inc.'s filing of a brief with the Florida Supreme Court asking that justices affirm a 2003 appellate court decision overturning a judgment in a lawsuit accusing tobacco companies of lying to smokers about health risks associated with tobacco. Overview of the case;...

  • Philip Morris Seeks Reversal or Reduction of $10.1B Judgment. Albanese, Elizabeth // Bond Buyer;4/23/2003, Vol. 344 Issue 31620, p32 

    Lawyers for Philip Morris USA Inc. urged Madison County, Illinois, Circuit Court Judge, Nicholas Byron, to overturn or significantly reduce a 10.1 billion dollar judgment he awarded plaintiffs in a class-action lawsuit on March 21, 2003. Meanwhile, Moody's Investors Service Inc. further lowered...

  • Philip Morris' Bond Lowered. Albanese, Elizabeth // Bond Buyer;4/15/2003, Vol. 344 Issue 31615, p1 

    Philip Morris USA Inc. officials will make a $ 2.6 billion payment to states in the U.S. under the terms of the 1998 Master Settlement Agreement with 46 states after a Madison County, Illinois circuit court judge lowered the initial payment amount of $10.1 billion. After negotiations with the...

  • Tobacco Industry Lawyers Confident They'll Win in the End. Vadum, Matthew // Bond Buyer;11/15/2004, Vol. 350 Issue 32010, p4 

    Reports on the appeal of Philip Morris USA on U.S. district Judge Gladys Kessler's ruling. Contention of the government against the tobacco industry; Facts of the case; Requirement of the government to prove that the companies committed fraud.

  • CIRCUIT ROUNDUP NATIONAL CORPORATE NEWS BY REGION. Mack, Debbi // Corporate Legal Times;Nov2004, Vol. 14 Issue 156, p64 

    The article reports that Philip Morris Inc., which has come under fire for allegedly misleading consumers about its light cigarettes, will have to defend those charges against an entire class of smokers. The Massachusetts Supreme Judicial Court ruled 4 3 to uphold a class of Marlboro Lights...

  • Relief for tobacco no cause for upgrades. M.G. // Asset Securitization Report;4/14/2003, Vol. 3 Issue 15, p3 

    Reports that Illinois Circuit Court Judge Nicholas Byron, who had previously ruled against Philip Morris Cos. Inc., has indicated that he may lower the company's bonding requirements. Link between the tobacco securitization ratings and the credit of the industry as a whole; Possibility for...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics