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Takata settles with injured drivers to exit bankruptcy

February 12, 2018

Associated Press ---------- Takata Corp’s U.S. unit has reached a settlement with representatives of those injured by lethally defective air bags, paving the way for the company to exit Chapter 11 bankruptcy and move forward with a reorganization plan, according to court documents. The agreement between the Japanese auto parts suppliers, injured drivers and creditors, was outlined in documents filed in a Delaware bankruptcy court. Two groups representing people suing over the air bags have dropped their opposition to the restructuring plan, according to the documents filed on Saturday. Under the settlement, lawsuits will be resolved through a trust fund. To learn more click on the picture below to read the article.

 

 

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