September 7, 2017 / 11:45 PM / in 9 months

Bankruptcy notice plan for Takata under fire from carmakers

Automakers said on Wednesday they should not have foot the bill for extensive procedures to notify car owners about the bankruptcy of the U.S. unit of Takata Corp, which filed for Chapter 11 in the wake of a record recall of its air bags.

The cost for expanded noticing to tens of millions of car owners to inform them about claims procedures could run to about $42 million, said the automakers in court papers. The car companies, including Honda Motor Co, Toyota Motor Corp and Ford Motor Co, argued the cost should be shared by all parties in the restructuring.

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