Ark. High Court Says General Tobacco Owes $2.45M

Law360, New York (March 31, 2011, 6:21 PM EDT) -- The Supreme Court of Arkansas on Thursday upheld a trial court's ruling that a North Carolina-based tobacco company must pay $2.45 million it owes Arkansas as part of a 1998 master settlement agreement between states and tobacco companies.

But the court reversed the Pulaski County Circuit Court's ruling that Vibo Corp., doing business as General Tobacco, was on the hook for the $240 million it owes to the other states who signed the agreement but were not parties in this particular case.

The high court remanded...
To view the full article, register now.