Takata Wants $7.5M From Airbag Part Supplier Over Defects
By Jeff Montgomery (June 24, 2019, 8:58 PM EDT) -- Takata Corp.'s bankruptcy estate sued airbag inflator supplier ARC Automotive Inc. in Delaware's bankruptcy court on Monday, seeking at least $7.5 million for ARC's alleged sales of defective parts that triggered a major General Motors Corp. safety recall.
It is the first such supplier recovery action docketed by Reorganized TK Holdings Trust, formed under the confirmation of Takata parent TK Holdings Inc.'s Chapter 11 plan and sale in February 2018.
Takata retreated into bankruptcy in June 2017, driven there after a deadly series of explosive failures involving airbags it supplied to automakers. Remnants of the company's businesses were sold for $1.6...
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