Takata settles with injured drivers to exit bankruptcy
CLOSE Scandal-plagued airbag maker Takata Corp. filed for bankruptcy in Delaware and Japan late Sunday, June 25, after paying out over $1 billion in fines for the largest auto safety recall in U.S. history.
NEW YORK — 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... read more
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