Carolina Tobacco applies for MSA, files for Chapter 11
Carolina Tobacco Company (CTC) has applied to become a signatory to the Master Settlement Agreement (MSA).
CTC’s application has been submitted to the National Association of Attorneys General, which coordinates state enforcement of the MSA.
“We feel the future growth and direction of our company warrants becoming a signatory,” says David Redmond, president and CEO of CTC, noting that the company already manufactures and markets its products in the spirit of the MSA. “The approval of our application to become a participating manufacturer will bring new focus to CTC as we join in providing financial benefits to the participating states.”
CTC has filed for Chapter 11 to “navigate the application process” but doesn’t expect that move to impact the company’s daily operations.