Takata Is Headed for Chapter 11 Due to Exploding Air Bags
It’s been a long time coming, but it appears Takata is now headed for chapter 11 to address the many problems arising from its exploding airbags, as explained in a June 15, 2017 article from Reuters. If the numbers in the article are accurate, this could prove an interesting contrast to the typical “mass tort” chapter 11 cases. Why? The major creditors are car manufacturers instead of personal injury claimants.