Reynolds Makes Part MSA Payment

Source from:  Tobacco Reporter 04/20/2009

R.J. Reynolds Tobacco has paid $1.73 billion in Master Settlement Agreement payments, according to a report by Richard Craver for the Winston-Salem Journal. But in a continuing dispute over its annual payment obligations, R.J. Reynolds, is withholding 19 per cent of the total amount said to be due on the basis of its 2008 sales: $2.14 billion. But instead of placing the disputed $406.5 million in a special escrow account, as it has since 2003, R.J. Reynolds is keeping the money, as is permitted by the agreement. Enditem