Brian Davidoff was quoted by Law360 on July 10, 2017, in an article discussing the Takata Chapter 11 bankruptcy that includes personal injury claims as well as those claiming financial losses as a result of Takata’s defective air bags and subsequent recall.
A tort claimants committee has been formed to ensure claimants rights amidst a complex Chapter 11 that includes a potential $1.6 billion dollar sale between Takata and its competitors in the industry, and the real issue of determining current and future liability for claims against the company for air bags that haven’t been recalled or replaced.
“It’s going to be a question of capturing that liability,” said Davidoff. “I wouldn’t be surprised if there is a mechanism set up much like a future claims representative in an asbestos bankruptcy. But unlike asbestos cases, there isn’t a specific section of the Bankruptcy Code dedicated to the process.”