Latest News

Takata Encourages Creditors to Review Information on Chapter 11 Cases

Order Reprints

Nov. 7, 2017—Takata is encouraging creditors to stay up-to-date on the latest in the Chapter 11 cases filed.

Fixed Ops Business magazine previously reported that in June, Takata filed for bankruptcy following the ongoing airbag scandal. 

Debtors, subsidiaries of Takata, encourage individuals who own, or may have owned, vehicles equipped with certain airbag inflators manufactured by them or their affiliates that contain phase-stabilized ammonium nitrate ("PSAN Inflators") to visit this website and carefully review information about the Chapter 11 Cases and the process for filing a proof of claim against the Debtors. Information on this website is available in 22 languages, and interested individuals may register their email addresses to receive notifications of important developments in the Chapter 11 Cases.

The Bankruptcy Court has established the following deadlines for filing proofs of claim against the Debtors:

(a) For claims against any of the Debtors other than (i) claims of Governmental Units (as defined below) and (ii) claims that relate to or arise from PSAN Inflators manufactured by the Debtors of their affiliates prior to the Petition Date ("PPIC Claims"), the deadline to file a proof of claim is Nov. 27 at 5 p.m. (Eastern Time); (b) For PPIC Claims, the deadline to file a proof of claim is Dec. 27 at 5 p.m. (Eastern Time); and (c) For claims against any Debtor asserted by a governmental unit (as defined in Bankruptcy Code section 101(27)), the deadline to file a proof of claim is Dec. 22 at 5 p.m. (Eastern Time) (the "Governmental Bar Date").

Individuals should contact their local dealership to determine if they have a PSAN Inflator. For more information about recalls of PSAN Inflators (including information about obtaining a replacement inflator), visit www.AirbagRecall.com, https://www.nhtsa.gov/recall-spotlight/takata-air-bags, http://www.tc.gc.ca/eng/motorvehiclesafety/safevehicles-defectinvestigations-1433.html, http://www.mlit.go.jp/en/jidosha/vehicle_recall_17.html, respond to the recall notice (to the extent you received one), or contact your local dealership. The Chapter 11 Cases should not impact the ability of drivers to get replacements for recalled PSAN Inflators free of charge.

Related Articles

Three Takata Executives Indicted

Takata Files for Bankruptcy Following Airbag Scandal

Key Safety Systems Pays $1.59B to Acquire Most of Takata

You must login or register in order to post a comment.