Australian state and federal governments are considering taking legal action against tobacco companies similar to that which resulted in a US$246 billion settlement in the U.S. and the creation of a new class of securitized asset: tobacco settlement receivables.

The process is at an early stage, with government solicitors at state and federal level in Australia and New Zealand agreeing to look at the possibility of a joint action that would force the tobacco industry to contribute to the costs of smoking-related healthcare.

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