Mexican Media Brands
U.S. Court Approves Takata Bankruptcy Exit Plan
A bankruptcy court in Delaware has approved a Chapter 11 restructuring plan for the U.S. unit of airbag supplier Takata Corp.
#legal
Share
A bankruptcy court in Delaware has approved a Chapter 11 restructuring plan for the U.S. unit of airbag supplier Takata Corp.
Reuters notes that Judge Brendan Shannon’s ruling on Saturday clears the way for Takata to sell most of the assets of TK Holdings Inc. to Michigan-based Key Safety Systems Inc. for $1.6 billion. Key was acquired in 2016 by China’s Ningbo Joyson Electronic Corp.
Reuters says a Takata lawyer told Shannon that the U.S. government’s review of the planned asset sale will be completed by March 26.
RELATED CONTENT
-
Ex-FCA Official Pleads Guilty in Labor Training Fund Scandal
Alphons Iacobelli, a former head of labor relations for Fiat Chrysler Automobiles NV in the U.S., has pleaded guilty of stealing millions of dollars from an employee training fund.
-
VW Asks to Delay U.S. Diesel Emission Trials Over Hitler Reference
Volkswagen AG has asked a judge to delay several U.S. lawsuits involving rigged diesel emission controls because a lawyer representing hundreds of VW customers made “inflammatory” comments about the company.
-
Uber Settles with Family of Woman Killed in Self-Driving Car Crash
Uber Technologies Inc. has quickly settled on damages to the survivors of a woman killed in Tempe, Ariz., last week by an Uber test vehicle operating in autonomous mode.