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RJR Ordered To Continue Fla. Tobacco Payments

Law360, Miami (January 2, 2018, 6:10 PM EST) -- A Florida judge has ruled that R.J. Reynolds must continue making annual tobacco settlement payments to the state for the Winston, Kool and Salem cigarette brands that the company sold to ITG Brands LLC for $7 billion.

In a ruling issued Dec. 27, Judge Jeffrey Dana Gillen said the asset purchase agreement between ITG and R.J. Reynolds Tobacco Co. does not explicitly state that the buyer is assuming liability for the payments under the terms of the 1997 landmark settlement agreement with tobacco companies, which requires...
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