Potential bidders for Takata may balk at GM bankruptcy precedent

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Potential bidders for Takata may balk at GM bankruptcy precedent

By Tom Hals WILMINGTON, Del. (Reuters) – As auto supplier Takata Corp prepares for a possible U.S. bankruptcy filing, potential bidders are poring over a recent U.S. court ruling that could expose a buyer to liability for the company's defective air bags, sources have told Reuters. Takata faces potentially billions of dollars in costs from the world's largest automotive recall, stemming from millions of its air bags that were equipped with malfunctioning inflators. Generally, U.S. bankruptcy law allows a bidder to buy assets free and clear of lawsuits and other liabilities, and the selling company uses the money to repay its creditors.
A logo of Takata Corp is seen with its display as people are reflected in a window at a showroom for vehicles in Tokyo

http://news.yahoo.com/potential-bidders-takata-may-balk-gm-bankruptcy-precedent-011222139–finance.html

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18 comments on “Potential bidders for Takata may balk at GM bankruptcy precedent

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