BOSTON, May 30, 2018 /PRNewswire/ — The following statement is being issued by Professor Eric D. Green, Special Master for the Department of Justice’s Takata Airbag Individual Restitution Fund and the Trustee of the Tort Compensation Trust Fund Created in the Takata Bankruptcy Cases. Takata Defective Airbag Claims Professor Eric D. Green, the Court-Appointed Special Master […]
BOSTON, May 30, 2018 /PRNewswire/ — The following statement is being issued by Professor Eric D. Green, Special Master for the Department of Justice’s Takata Airbag Individual Restitution Fund and the Trustee of the Tort Compensation Trust Fund Created in the Takata Bankruptcy Cases.
Takata Defective Airbag Claims
Professor Eric D. Green, the Court-Appointed Special Master of the Department of Justice’s $125 million Takata Individual Restitution Fund (“IRF”) and the Court-Appointed Trustee of the Takata Airbag Tort Compensation Trust Fund (“TATCTF”) created in the Takata bankruptcy case announced today that he has launched the compensation program for individuals who suffered personal injury or wrongful death caused by the rupture or aggressive deployment of a Takata phase-stabilized ammonium nitrate airbag inflator (a “Takata Airbag Inflator Defect”). The TATCTF has about $140 million.
There are three types of claims that can be brought by individuals who suffered injury or wrongful death caused by a Takata Airbag Inflator Defect: (i) an “IRF Claim” for compensation from the IRF, the personal injury and wrongful death restitution fund overseen by the Special Master and established under the Restitution Order entered by the United States District Court for the Eastern District of Michigan (the “District Court”) on February 27, 2017 in connection with the Department of Justice’s criminal case against Takata, U.S. v. Takata Corporation, Case No. 16-cr-20810 (E.D. Mich.); (ii) a “Trust Claim” against Takata, which must be resolved through the TATCTF, overseen by the Trustee and established in connection with Takata’s Chapter 11 Plan of Reorganization (the “Bankruptcy Plan”) in the Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), and (iii) a “POEM Claim” against a Participating Original Equipment Manufacturer (a “POEM;” presently the only POEM is Honda/Acura), which must be resolved pursuant to the Bankruptcy Plan through the TATCTF overseen by the Trustee.
Each of these three types of claims has its own eligibility requirements and each claim type covers only physical injuries and wrongful death resulting from a Takata Airbag Inflator Defect. Claims related to injuries or wrongful death caused by other airbag components — such as airbag failure to deploy, spontaneous airbag deployment, crash injuries unrelated to the inflator, or economic losses unrelated to physical injuries or death — are not covered by the three types of claims described above.
Individuals can now access the claim forms, which include detailed instructions regarding how to file a claim, on the IRF website, www.takataspecialmaster.com, or on the TATCTF website, www.TakataAirbagInjuryTrust.
Oversight of the Claims Process and Resources for More Information
Professor Green was appointed by the District Court to serve as the Special Master overseeing IRF Claims and was appointed by the Bankruptcy Court to serve as the Trustee overseeing Trust Claims and POEM Claims.
For more information about eligibility requirements, filing deadlines and how to file a claim, please visit www.takataspecialmaster.com, www.TakataAirbagInjuryTrust.
SOURCE: Takata Special Master/Trustee