Takata’s Bankruptcy Has Been Improved. What Does That Mean for Victims?

Takata’s chapter 11 bankruptcy plan has been approved by a Delaware judge. While that means some reorganization, pay-offs for creditors, yadda yadda etc … the dollar figure I was interested in involves how much is being set aside for injury victims.

The action makes official the agreement that requires the airbag manufacturer to pay $850 million to help automakers cover some of the cost for airbag recalls. Another $125 million will be paid to compensate drivers injured by exploding airbags.

The plan also includes a “channeling injunction” for future victims. Unfortunately I don’t see any mention of compensation for the families of people killed by the inflators, but I’m sure we’ll see future litigation in those cases.