Takada Airbag Caused Multiple Deaths and Injuries, US Court Approves Its Restructuring Plan

According to Japanese media, TK Holdings (Michigan), a core US subsidiary of Takada, a bankrupt company in Japan, revealed that the restructuring plan has been approved by the Federal Bankruptcy Court of Delaware in the United States.

The report pointed out that about 11 months have passed since Article 11 of the “United States Federal Bankruptcy Law” that applied for the equivalent of Japan’s “Civil Rehabilitation Law” in June of last year, compensation for defective airbag victims has already been taken care of, and the business is transferred toward the business. Direction to advance.

According to the law firm of the agent of the defective airbag defector, a fund to compensate the defective airbag victim and the deceased's survivor will be established under the reorganization plan. The estimated fund size is between 90 million and 137 million U.S. dollars, and applications for victims will be accepted from the middle of this year.

It is reported that Takata had bankruptcy in June 2017 due to an increase in the cost of defective airbag recalls. In November of the same year, the final agreement was reached with KSS, the Chinese auto parts giant, on business transfer.

According to the law firm, defective airbags have caused at least 22 deaths worldwide and 180 wounded.