http://www.drive.com.au/motor-news/t...26-gwylc9.html
The bankruptcy of troubled airbag maker Takata isn't just a crisis for its employees and suppliers. It also throws a wild card into one of the biggest and most complicated recalls in automotive history.
The auto-parts supplier has pledged to recall and replace tens of millions of defective air-bag inflators used by 19 car and truck makers around the world, from Tesla to Toyota. Takata filed on Monday for bankruptcy protection in the US and Japan and announced a takeover by Key Safety Systems for 175 billion yen (A$2.07billion).
The filing to restructure, which listed more than $13 billion in liabilities, doesn't relieve a manufacturer of recall responsibilities. However, should its financial assets be exhausted before all the work is done, carmakers may have to cover the difference.
The auto-parts supplier has pledged to recall and replace tens of millions of defective air-bag inflators used by 19 car and truck makers around the world, from Tesla to Toyota. Takata filed on Monday for bankruptcy protection in the US and Japan and announced a takeover by Key Safety Systems for 175 billion yen (A$2.07billion).
The filing to restructure, which listed more than $13 billion in liabilities, doesn't relieve a manufacturer of recall responsibilities. However, should its financial assets be exhausted before all the work is done, carmakers may have to cover the difference.
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