RJR Ordered To Continue Fla. Tobacco Payments

By Carolina Bolado (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 them to pay states hundreds of millions of dollars each year to compensate for public...

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