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Takata reaches settlement

Takata reaches settlement
Posted at 4:31 PM, Feb 12, 2018

Takata has reached a settlement with people who have been injured by the company's defective airbags.

This settlement could pave the way for them to get out of chapter 11 bankruptcy.

The groups representing those people suing over the airbags have dropped their opposition to the settlement plan.

The settlement will establish a trust fund to help resolve the lawsuits.

The restructuring plan for Takata also calls for the sale of most of the company to a Chinese-owned rival for more than one and a half billion dollars.