US cigarette company Philip Morris has been unsuccessful in its challenge of Australia’s plain packaging laws after an international arbitral tribunal dismissed the multinational’s claims that plain packaging was in breach of the Australia-Hong Kong bilateral investment treaty signed in 1993.
The tobacco giant and owner of Marlborough claimed that plain packaging of cigarette packets went against the bilateral investment treaty signed by the two countries, after it took the extraordinary measure of restructuring its investment through an Asian subsidiary based in Hong Kong to take advantage of the 22 year-old investment treaty. But the international…
This content is for subscribers only. Subscribe now for free to read the full article.
Already a subscriber? Login
