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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.