Takata bankruptcy means air bag victims get less

Business as usual for criminals; file for protection to avoid payouts, change the name, and go at it again for profits unit the next scandal. Rinse and repeat. Who gives a crap about the people you kill or just maim in the process? And to think this was once a reputable company with a good name.

Maybe auto companies and parts suppliers should be required to pay into an industry compensation fund that would allow victims of potential negligence and recalls to receive some payout regardless of whether the individual company goes bankrupt.

This is what oil companies and refineries are required to do so that there is money available in the event of an oil spill.

Wow, I just got a detailed explanation on how corruptions works, and how the weak are muscled out of their compensation by the strong. I bet their severance packages will be more than some victims payout. Disgusting!

And still, nobody has gone to jail! There will still be options for victims for civil suits against executives, but they take years (possibly decades) to get through the courts. It's quite disgusting that only 12.5% of the 1 billion bucks has gone towards the victims. The car repairers who fixed all the dangerous airbags are the ones who took the majority of the payout, but now, they are the ones who will lose out. Bankruptcy usually means companies are only liable for 10 cents in the dollar of debt (10%). The fraud of this company is absolutely despicable. They were aware of this problem for over ten years, but did or said nothing about it. They just kept taking the money. They should not be allowed to go into bankruptcy and be made to pay the full compensation and penalties to both the victims and the repairers who cleaned up their garbage.

How can it be that Takata is allowed to continue doing business?

More like the criminals get away with not paying

Takata intends to try to use our bankruptcy laws to escape responsibility for the injured and the families of the dead," said Bradford Child, a Los Angeles lawyer who represents the family of a woman killed by a ruptured inflator.

Then what does that say about the system? If you were on the other side, as lawyers are wont to do, you would be doing the exact same thing for Takata.

Don't like it, change it, and make them pay!