Jump to full article: Philip Morris International (ch), 2011-11-21
Intro: Philip Morris Asia Limited (PMA), Hong Kong, owner of Australian affiliate, Philip Morris Limited (PML), today announced that it has begun legal proceedings against the Australian Government by serving a Notice of Arbitration under Australia’s Bilateral Investment Treaty with Hong Kong. The Notice of Arbitration was served on the Government immediately following the passage of plain packaging legislation for tobacco products by the Australian Parliament.
Commenting on today’s announcement, PMA spokesperson Anne Edwards said: “We are left with no option. The Government has passed this legislation despite being unable to demonstrate that it will be effective at reducing smoking and has ignored the widespread concerns raised in Australia and internationally regarding the serious legal issues associated with plain packaging.”
PMA is seeking suspension of the legislation and substantial compensation for the loss of the company’s valuable trademarks and investments in Australia that will result from plain packaging. The company expects damages to amount to billions of dollars and that the legal process will take 2 to 3 years.
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We are left with no option. The Government has passed this legislation despite being unable to demonstrate that it will be effective at reducing smoking and has ignored the widespread concerns raised in Australia and internationally regarding the serious legal issues associated with plain packaging.
Philip Morris Asia Limited (PMA) spokesperson Anne Edwards.
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