Takata Corp.’s U.S. unit has reached a settlement with current and future airbag victims, creditors, and automakers that will clear a path out of its Chapter 11 bankruptcy, which was brought on last year amid the spiraling scope and costs of its airbag recall. Saddled by recall costs and faced with numerous airbag injury and death claims, Takata was pushed to sell its viable operations to Key Safety Systems, a U.S.-based Chinese company, for $1.6 billion. The proceeds of the sale will help fund restitution claims filed by automakers and injury and death claims filed by people injured by defective ... Read More
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