According to court papers, Takata Corp’s U.S. unit reached a settlement with its creditors, lawyers for those injured by its deadly air bags and automakers. The settlement smoothes the way to end its Chapter 11 bankruptcy and sell its viable operations.
The Japanese company’s air bags can explode with too much force. They have been linked to hundreds of injuries and at least 21 deaths. The defect has led to the largest recall in automotive history. It has forced Takata and its U.S.