In August 2020, the Japanese automobile maker Honda agreed to pay $96.5 million to settle an investigation into their role in issues stemming from defective airbags between the years 2000 and 2008. This probe, along with a number of class-action lawsuits and private personal injury lawsuits, alleges that Honda knowingly approved the use of Takata airbags while being aware that they were using sub-par materials and volatile substances in the manufacturing process, and that there was a dangerous risk of the airbag rupturing. When these airbags ruptured, they could send shards of metal, glass, and plastic flying, causing serious injury and even death to the passenger that the bag was meant to protect in the event of an accident.
According to the New York State Attorney General Letitia James, Honda knowingly approved the installation of Takata airbags while they were continuously aware of the fact that the dangers – at least 14 people were killed and 200 injured as a result of this dangerous decision. According to Honda: “The now-bankrupt airbag inflator supplier, Takata, pleaded guilty in 2017 to federal criminal fraud charges for deceiving Honda and other automakers about the safety of its airbags, under the terms of these civil settlements, Honda does not acknowledge any wrongdoing.”
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If you or a loved one has been hurt—or killed—due to a Takata airbag malfunction, contact our Florida defective products lawyer as soon as possible so that we can discuss your range of options. There are class-action suits that we may decide to join, or may determine that the most appropriate course of action is filing your own personal injury case, depending on the many factors present in your unique situation. We understand that trying to move forward from any personal injury is difficult and overwhelming, and it can be extremely frustrating knowing that your damages were caused by a company that knowingly ignored the warnings and chose to work with a dangerous product in order to save money and cut costs.
Read more below to learn a bit more about the Takata lawsuits and the dangerous present in these airbags, and contact us as soon as possible to speak directly with an experienced Florida personal injury lawyer about how our team can help today.
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What Happened With Takata Airbags?
TK Holdings, Inc. was the US-based subsidiary of Takata Airbags and has gone bankrupt in light of the allegations that they used sub-standard and dangerous materials in the production of their airbags between the years 2000 and 2008. However, there are a variety of avenues that victims can pursue for compensation, which will be addressed in the following section.
Takata airbags installed faulty airbags in Honda, Mazda, Toyota, and Ford vehicles between the years 2000 and 2008, and ignored safety tests that showed the possibility of sharp metal shrapnel being propelled at the driver or passenger. There have been massive recalls as a result, but there is still an alarming number of vehicles driving around with these dangerous airbags installed.
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How You Can Recover Compensation For Takata Airbag Injuries
Since TK Holdings, Inc. has gone bankrupt, there are a few different trusts and funds that are set up to provide financial relief for victims, each of which we will be able to explore for your own situation and determine which is the most appropriate for your needs, as well as the possibility of additional avenues that we may explore to get the compensation that you rightfully deserve.
Takata Airbag Individual Restitution Fund
This restitution fund was established in accordance with the United States District Court for the Eastern District of Michigan following Takata’s criminal plea and Chapter 11 bankruptcy plan. In addition to this individual restitution plan, the courts also required the formation of the Takata Airbag Tort Compensation Trust Fund (“TATCTF”), both of which victims are able to seek compensation from if they or a loved one has suffered a personal injury as a result of a Takata airbag deployment.
The IRF has over $125 million available for victims.
Takata Bankruptcy Trust
This bankruptcy trust was additionally set up in accordance with the US District Court for the Eastern District of Michigan during the Chapter 11 proceedings, and the site provides the following information:
“A Claimant may also submit a claim for compensation from the TATCTF established in connection with Takata’s Chapter 11 Bankruptcy Plan of Reorganization, which was confirmed by the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) on February 21, 2018. This is called a “Trust Claim.”
To learn about the specific eligibility requirements for this trust, check here.
Participating Original Equipment Manufacturer (POEM) Tort Claims
In addition to the two funds created following the bankruptcy and criminal plea, there is the option to file a suit against an equipment manufacturer who knowingly installed these vehicles. Currently, there are lawsuits being filed against Nissan/Infiniti and Honda/Acura only.
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Why Hire Fasig | Brooks For Your Takata Lawsuit?
With so many complicated trusts and funds available for you to seek compensation through, as well as the possibility of opening a tort claim against a major automotive manufacturer, it can be difficult to decide exactly how to move forward with your case and fight for the compensation that you truly deserve. Suffering serious injuries or losing a loved one due to a faulty piece of equipment is devastating, and we want to help victims of this criminal negligence get the financial support that they need so that they can focus on moving forward without having additional financial burdens to worry about.
No two personal injuries are alike, which is why we think that it is so important to take advantage of our free consultation. During our call, we will be able to go over the range of options available to you, explain how we can help, and ultimately decide the best path forward for us as a team in order to fight for your rights and get you a fair payment for this terrible experience that you and your family have endured.
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