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Takata Judge Suspends Victim Lawsuits Against Carmakers
A U.S. federal judge in Delaware has imposed a 90-day stay on lawsuits the were filed against carmakers about exploding Takata Corp. airbag inflators.
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A U.S. federal judge in Delaware has imposed a 90-day stay on lawsuits the were filed against carmakers about exploding Takata Corp. airbag inflators.
The temporary suspension is intended to help complete Takata’s bankruptcy, assist a planned $1.6 billion sale of the company’s viable assets and facilitate recalls to replace the faulty inflators. The stay will expire on Nov. 15.
Takata and its U.S. unit, TK Holdings Inc., told the court they face billions of dollars in liabilities for the devices, which have been blamed for at least 18 fatalities and 180 injuries worldwide. More than 100 million of the inflators are being recalled by 19 carmakers.
U.S. bankruptcy Judge Brendan Shannon agrees that “debtors need a breathing spell for reorganization.” The hundreds of lawsuits involved cover claims of wrongful death, injuries, loss of vehicle resale value and violation of consumer protection laws.
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