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Takata set to go for a $1.6-bn sale as judge okays its US bankruptcy plan

The US unit's reorganisation plan will include funds provided by automakers to help compensate those injured by the airbags

Reuters  |  Wilmington 

Takata Corp's US unit received court approval for its bankruptcy exit plan, a plaintiffs' law firm said on Saturday, clearing the way for a $1.6 billion sale of Takata assets and providing compensation for those injured by the company's deadly airbags. Takata and its US unit, TK Holdings Inc, filed for bankruptcy last year in the wake of the largest automotive recall in history. The company's air bags can inflate with too much force and spray metal fragments and have been linked to hundreds of injuries and at least 22 deaths. "We are pleased that Judge ...

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First Published: Sun, February 18 2018. 11:57 IST
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