September 26, 2017 / 11:06 PM / 10 months ago

Creditors oppose Takata's U.S. unit paying Japanese parent's fees

The bankrupt U.S. unit of airbag maker Takata Corp should not pay the costs of overseeing $1 billion in restitution payments by its Japanese parent company, the unit’s official committee of unsecured creditors said in court papers on Monday.

Takata Corp of Japan set up a fund this year to compensate automakers and those injured by its deadly airbags. However, unsecured creditors of the U.S. unit do not want it to use its dwindling funds to help pay for a special master to oversee the restitution payments.

To read the full story on Westlaw Practitioner Insights, click here:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below