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Court Filing Shows Takata Creditors Want $30 Billion

By Brian Chase on November 10, 2017 - No comments

Honda Recalls 1.6 Million Vehicles for Defective Takata Airbags

Honda Recalls 1.6 Million Vehicles for Defective Takata Airbags

Creditors of the bankrupt Takata Corporation say the company owes them $30 billion after an unprecedented recall over its faulty airbags. According to a Reuters news report, that’s an amount that is many times more than what the company can pay. Following a worldwide recall that encompassed tens of millions of vehicles, Takata sought bankruptcy court protection from creditors in June as liabilities from recalls and lawsuits mounted.

Takata’s airbag inflators have been linked to at least 18 fatalities 180 injuries around the world. A chemical in the inflator that can degrade in high heat and humidity causes the airbag inflator to rupture and shoot out sharp metal pieces into the passenger compartment. These airborne shards have caused injuries to drivers and passengers that are consistent with stab wounds. Automakers have recalled or expect to recall by 2019 about 125 million vehicles worldwide to replace air bag inflators, including more than 60 million in the United States. The company aims to file its restructuring plan by Nov. 27.

What Actions Can You Take?

If you own a vehicle equipped with a faulty Takata airbag, it is important that you take the vehicle to a dealer for repairs. If you have not received a recall notice, it is a good idea to visit the National Highway Traffic Safety Administration’s website (safercar.gov) and enter your vehicle identification number (VIN) to check if your car is part of the recall. These are deadly defects that have taken lives and caused catastrophic injuries. So, it would be in your best interest to act.

If you know that your vehicle is part of the recall and have a personal injury, wrongful death or other claim against Takata, it is important that you visit this website, https://restructuring.primeclerk.com/TakataAirbagInflatorClaim/#, which provides up-to-date information about the Takata bankruptcy. Go to this website and register to receive the updates if you have been affected or are part of a claim for Takata. The website also lists a number of deadlines within which to file claims in bankruptcy court.

Auto Product Liability Issues

We’re still seeing injuries from these faulty Takata airbags because there are so many of these vehicles still out on the roadway. If you have been injured as the result of a Takata airbag inflator, it is important that you preserve the vehicle unaltered so an expert can examine it for defects and malfunctions. Contact an experienced auto defect lawyer who will remain on your side, fight for your rights and help hold the at-fault parties liable. In addition to the airbag manufacturer, the automaker may also be held accountable in such cases.

Source: https://www.reuters.com/article/us-takata-bankruptcy-exclusive/exclusive-takata-creditors-seek-30-billion-far-more-than-it-can-pay-court-filing-idUSKBN1D822X

 

Posted in: Auto Defects

About the Author: Brian Chase

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