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Takata, U.S. Skirmish Over Payments to Airbag Inflator Victims
Takata Corp. is objecting to the terms of a deal with the U.S. government to distribute $125 million in payments to victims injured or killed by the supplier’s faulty airbag inflators.
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Takata Corp. is objecting to the terms of a deal with the U.S. government to distribute $125 million in payments to victims injured or killed by the supplier’s faulty airbag inflators.
Takata frets that the agreement doesn’t clarify that the fund is intended to be distributed only to victims in the U.S. The settlement is part of a broader deal reached a year ago that specifies the company also will distribute $850 million to more than a dozen carmakers worldwide who are recalling the defective inflators.
The court-appointed manager of the fund ruled last month that payouts will be restricted to the U.S., notes Crain’s Detroit Business. The U.S. contends that the ruling resolves the issue, even though the original settlement didn’t specify any geographic limitations.
Both sides are scheduled to present oral arguments on the question on March 5 during a hearing by the U.S. District Court in Detroit.
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