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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 59.32+0.4%3:48 PM EST
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To: Jim Oravetz who wrote (6424)6/21/2006 12:25:38 PM
From: Jim Oravetz  Read Replies (1) of 6439
 
Philip Morris: Crt Orders Return Of $2.15B Appeal Bond
DOW JONES NEWSWIRES
June 19, 2006 3:18 p.m.

Philip Morris USA, a division of Altria Group Inc. (MO), on Monday said a court ordered the return to the company of about $2.15 billion in cash that secured the company's appeal bond in the Price "lights" case.

The company said that a $6 billion note, which also secured the 2003 judgment, would be returned to the company if the Supreme Court declines to hear the plaintiffs' appeal.

Philip Morris USA's obligations to deposit payments on the note and to pay administrative fees to the Madison County clerk were also terminated by the Illinois Supreme Court's order.
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