An Illinois judge on Friday reinstated a $12 billion appeal bond on Philip Morris USA, prompting a company lawyer to again warn that the price of challenging a court loss could bankrupt the cigarette maker.
The ruling was the latest turn in a battle over how much Philip Morris should pay of a $10.1 billion March judgment before appealing it.
"The bottom line is, a party shouldn't be forced into bankruptcy and deprived of the right to appeal," company attorney John Mulderig said after the hearing.
As an ex-smoker, the thought of Philip Morris being bankrupted warms my heart. Read the details here.