MARYLAND RECEIVES TOBACCO PAYMENT INSTALLMENT;
ARBITRATION PANEL RULING EXPECTED IN JUNE
Baltimore - Attorney General J. Joseph Curran, Jr., announced that Maryland will receive the second "annual payment" today from the Participating Manufacturers in the amount of $92,233,434, as due under the Master Settlement Agreement that resulted from the 1996 lawsuit filed by 46 states against the tobacco industry.
In total, this is the fifth payment made by the Participating Manufacturers, two annual payments and three "initial "payments. As of today, the state of Maryland will have received approximately $326,702,000, of which $245,028,000 has been credited to the Cigarette Restitution Fund for immediate appropriation and $78,968,000 has been deposited in escrow.
In other tobacco-related news, the arbitration panel who will rule on Maryland’s request for an award of attorney’s fees in order to reimburse its counsel, Peter G. Angelos, has indicated that there will be a postponement of the proceedings currently scheduled for this month. It is expected that the new date will be set for June, with a final decision to follow shortly thereafter.