Philip Morris Asia Limited Comments on Tribunal’s Decision to Decline Jurisdiction in Arbitration Against Commonwealth of Australia Over Plain Packaging
18.12.2015 00:34 | Business Wire
Philip Morris Asia Limited (PMAL), a Hong Kong company that is the parent of Philip Morris Australia, said today that an arbitral tribunal has declined jurisdiction to hear the merits of PMAL’s case against the Commonwealth of Australia under Australia’s 1993 Investment Promotion and Protection Agreement (IPPA) with Hong Kong.
“There is nothing in today’s outcome that addresses, let alone validates, plain packaging in Australia or anywhere else,” said Marc Firestone, Philip Morris International Senior Vice President and General Counsel. “It is regrettable that the outcome hinged entirely on a procedural issue that Australia chose to advocate instead of confronting head on the merits of whether plain packaging is legal or even works”.
PMAL filed its claims under the IPPA on November 21, 2011, when the Australian government passed plain packaging legislation. PMAL asserted that the sweeping ban on trademarks breaches the foreign investment protections that the Australian government guaranteed in its IPPA with Hong Kong.
Firestone continued, “This case has never been about a government’s undeniable authority to regulate in the public interest. Nor has there ever been any question that tobacco products merit strict oversight. In our view, the real point is simply this: Even when pursuing tobacco control objectives, governments are still accountable if they choose to use unlawful means. This is the essence of the rule of law.”
The Australian government’s tobacco packaging policy remains the subject of international disagreement. The World Trade Organization (WTO) is currently considering challenges to Australia's legislation by four WTO Members. Separately, courts in Europe are also assessing plain packaging under national and international law. The decision on jurisdiction under the Australia-Hong Kong IPPA has no bearing on any of these proceedings.
Australia’s former Labor government made bold promises regarding the public health benefits that its excessive, expropriatory trademark ban -- which it labeled a policy experiment – would yield. Three years into the experiment, data from a range of sources consistently demonstrate that the promised outcomes are not being delivered.
PMAL is reviewing the Tribunal’s decision in detail and will determine any further course of action.
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading international tobacco company, with six of the world’s top 15 international brands, including Marlboro, the number one cigarette brand worldwide. PMI’s products are sold in more than 180 markets. In 2014, the company held an estimated 15.5% share of the total international cigarette market outside of the U.S., or 28.5% excluding the People’s Republic of China and the U.S. For more information, see www.pmi.com.
Philip Morris Asia Limited
Philip Morris Asia Limited (PMAL) manages PMI’s business in the Asia region. PMA is based in Hong Kong where the company was incorporated under the Hong Kong Companies Ordinance in 1994. PMAL owns the Australian affiliate, Philip Morris Limited (PML).
Philip Morris Limited
Philip Morris Limited (PML) began operations in Australia in 1954 as the first affiliate outside of the United States. Based in Melbourne, PML employs more than 500 people and is the second largest distributor of cigarettes in Australia. PML sells a number of well-known brands, including Marlboro, Alpine, Longbeach, Peter Jackson and choice. In 2014, PML held an estimated 34% share of the Australian cigarette market.
Philip Morris International media office
T: +41 (0)58 242 4500
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Study Investigates Performance of Masimo PVi® As Part of Goal-Directed Fluid Therapy During Laparoscopic Bariatric Surgery21.8.2017 06:00 | Pressemelding
Masimo (NASDAQ: MASI) announced today the findings of a recently published study in which researchers at Firat University in Turkey evaluated the performance of Masimo PVi®, a noninvasive and continuous measurement of the dynamic changes in perfusion index (Pi) that occur during respiratory cycles, as the basis of a goal-directed fluid therapy (GDFT) protocol during laparoscopic bariatric surgery on mechanically-ventilated patients.1 In the study, Dr. Demirel and colleagues sought to evaluate whether using GDFT guided by PVi on morbidly obese patients undergoing laparoscopic Roux-en-Y gastric bypass (RYGB) surgery might result in less intravenous fluid use without compromising outcomes. They enrolled 60 patients and divided them randomly into control and GDFT groups. The control group’s fluid levels were managed by standard fluid therapy, using mean arterial pressure (MAP) and
Permasteelisa Group to Join Grandland21.8.2017 04:11 | Pressemelding
Worldwide leading contractor in engineering, project management, manufacturing and installation of architectural envelopes and interior systems, Permasteelisa Group, will join forces with Grandland Group – a fast growing, Shenzhen-based specialist in design and construction of architectural decoration. The strategic alliance will create the biggest, most comprehensive curtain wall player in the world, with exceptional potential for further growth for both companies. Permasteelisa will remain fully committed to build avant-garde architectures and top end, high-quality projects which have become its trademark. The news comes today after LIXIL Group Corporation (LIXIL Group) (TOKYO: 5938) – a global leader in the housing and building industry – announced that it has decided to sell 100% of shares of Permasteelisa S.p.A., held by its major subsidiary LIXIL Corporation, to Grandland Holding
LIXIL to Sell Permasteelisa to Grandland21.8.2017 03:42 | Pressemelding
LIXIL Group Corporation (LIXIL Group) (TOKYO:5938), a global leader in the housing and building industry, today announced that it has decided to sell 100% of the shares of Permasteelisa S.p.A (Permasteelisa) held by its major subsidiary LIXIL Corporation to Grandland Holdings Group Limited (Grandland), a leading Chinese architectural design and construction company. The transaction is subject to customary closing conditions and regulatory approvals, including in China, the United States and Russia. Under the terms of the agreement, the base sale price for Permasteelisa is EURO 467 million. As a result of this transaction and the deconsolidation of Permasteelisa from LIXIL Group, LIXIL Group’s revenue for the full fiscal year ending March 2018 is expected to decrease by approximately 170.0 billion yen from the amount announced on May 8, 2017 (by approximately 9.2% of the previously fore
Samsung Bioepis and Takeda Sign Strategic Collaboration Agreement to Co-Develop Multiple Novel Biologic Therapies20.8.2017 23:30 | Pressemelding
Samsung Bioepis Co., Ltd. announced today that it has entered into a strategic collaboration agreement with Takeda Pharmaceutical Company Limited (TSE: 4502) to jointly fund and co-develop multiple novel biologic therapies in unmet disease areas. The two companies will immediately begin working on the program’s first therapeutic candidate, TAK-671, which is intended to treat severe acute pancreatitis. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170820005028/en/ Christopher Hansung Ko, President & CEO of Samsung Bioepis. (Photo: Business Wire) “Takeda’s extensive knowledge and expertise in drug development makes the company an ideal partner for us as we open a new chapter at Samsung Bioepis,” said Christopher Hansung Ko, President and CEO, Samsung Bioepis. “Five years ago, we entered
The Valence Group Issues Fairness Opinion to SK Capital in Connection with Archroma18.8.2017 13:30 | Pressemelding
The Valence Group has provided a fairness opinion to SK Capital Partners, LP in connection with its recapitalization of Archroma, including investments made by various affiliates of SK Capital. Terms of the transaction were not disclosed. About SK Capital SK Capital is a private investment firm focused on the specialty materials, chemicals and pharmaceutical sectors. The firm builds strong and growing businesses that generate substantial long-term value for its investors. SK Capital utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing companies with improved strategic positioning, growth, profitability and risk profiles. The firm currently has approximately $1.9 billion of assets under management and its portfolio companies generate revenues of over $5.0 billion annually and employ approximat
Biker Summer 2017 campaign: What’s happening during Biker Summer 2017? Moto-tyres.co.uk is giving away exciting prizes!18.8.2017 09:22 | Pressemelding
Whether it’s a short weekend break or a long-distance tour – once again this year Moto-tyres.co.uk is asking bikers from 10 countries about their dream destinations and longest journeys as part of its “Biker Summer 2017” campaign. To ensure than nothing gets in the way of your next tour, the two-wheeler tyre store from Delticom, Europe’s leading online tyre dealer, is entering anyone who completes the survey before 30 September 2017 into a prize draw to win some great biking accessories. Simply answer three short questions about your plans for bike tours this year (don’t forget to provide your name and email address), and with a bit of luck, you might win one of these great prizes. Up for grabs are a GARMIN motorbike GPS system, a GoPro camera with helmet bracket and five 200-Pound vouchers for new motorbike tyres from the online store – thanks to the product range at Moto-tyres.co.uk, eve
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom