US judge clears Takata to seek creditor vote on bankruptcy plan

WILMINGTON: The judge overseeing the bankruptcy of Takata Corp’s US unit on Wednesday cleared the way for the company’s creditors to vote on its Chapter 11 plan, which critics say limits the legal rights of those injured by its deadly airbags. Takata and its US entity TK Holdings Inc filed for bankruptcy in June after more than 100 million of its airbags were recalled because they could inflate with too much force and spray metal fragments. The airbags have been linked to at least 180 injuries and 18 deaths, including one in Louisiana that was identified last month. During Wednesday’s hearing, the judge reviewed the adequacy of TK Holdings’ disclosures, which attempt to summarise and translate the dense legalese of the company’s proposed reorganisation plan. — Reuters