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Takata Gets Nod On Unusual Bankruptcy Financing Deal

Law360, Wilmington (October 2, 2017, 7:02 PM EDT) -- A Delaware bankruptcy judge agreed Monday to give final approval to Takata Corp.’s unusual post-petition financing arrangement with its big-name automaker customers, expected to free up roughly $300 million in liquidity, after hearing they had resolved differences over funding with the tort claimant committee.

During a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge Brendan L. Shannon said he was “prepared to sign” a final order for what the players in the case call an accommodation agreement with the automakers, which include top companies like Toyota Motor...
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