Takata's Japanese Parent Wins Ch. 15 Recognition

Law360, Wilmington (November 14, 2017, 5:39 PM EST) -- The Delaware bankruptcy judge presiding over the Takata family of cases said Tuesday that he would grant the company's Japanese parent Chapter 15 recognition over the objections of a group of plaintiffs suing over the debtor's dangerously defective airbag inflators who say their due process rights are being squelched.

During a hearing in Wilmington, U.S. Bankruptcy Judge Brendan L. Shannon said that while "I acknowledge and sympathize with" the concerns brought up by plaintiffs in the multidistrict litigation surrounding Takata's faulty airbags linked to roughly a dozen deaths, the company's parent had met all of the requirements to receive recognition of...

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