Source: TOBACCO REPORTER, 7/7/21



U.S. Tobacco Cooperative (USTC) has filed for Chapter 11 protection in federal court to meet short-term contractual obligations to its member growers during the 2021 crop season. “This filing provides us the best way possible to meet our short-term obligations and plan for the future,” said Oscar J. House, CEO and president of USTC, in a statement. “In no way does this action reflect on the health of the organization and its ability to continue operations well into the future. In fact, this action is in response to the uncertainty presented by the ongoing class action litigation brought against us in 2005."

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