Liability Risk and Insurance
Tobacco giant avoids increase
Philip Morris will not have to post more than US$6.8bn in order to appeal the US$10.1bn judgment in the class action over
the marketing of light cigarettes. A judge has ruled that the US$6.8bn would not have to be increased, but instead has said
that Philip Morris will have to put up a US$100mn guarantee in case of the company looking to gain bankruptcy protection.