June 4, 2018
Takata airbag personal injury victims may now access claims process
One centralized claims form is now available to U.S. personal injury or wrongful death victims of Takata airbags. The form allows claims to be submitted to three funds at once: the Individual Restitution Fund, The Takata Airbag Tort Compensation Trust Fund, and for those who were injured in a Honda, the Original Equipment Manufacturer (OEM) Honda North America, Inc., Channeling Agreement Fund. Below is more information about the funds and application process. Consumers may complete the forms, or seek legal counsel to assist. Motley Rice has assisted people with similar claims processes before, including the BP claims process and the 9/11 Victim Compensation Fund.
The form is available online at http://www.takataairbaginjurytrust.com/.
Motley Rice attorneys helped negotiate the bankruptcy resolutions, and represented three of seven personal injury victims and economic loss claimants, together with co-counsel, on a Tort Creditors’ Committee established at the onset of the bankruptcy process. The Tort Creditors’ Committee held equal powers to the OEMs and other creditors and was crucial to achieving favorable resolutions for victims.
Motley Rice represents or has settled more than three dozen claims made by personal injury victims harmed by Takata airbags in the U.S. and Malaysia, and was the first law firm to thoroughly investigate the airbag defect by disassembling airbag inflators found in junk yards. If you or a loved one was injured by a Takata airbag and wish to discuss your case or the Takata Airbag Individual Restitution Fund, you may contact Motley Rice attorney Kevin Dean at 1-800-768-4026 or by email.
Millions of vehicles have been recalled for defective Takata airbags. To see if your vehicle is recalled, visit www.safercar.gov and enter your VIN.
Participating Original Equipment Manufacturer (POEM) – Honda/Acura
Type of Fund: A separate channeling agreement was reached with Original Equipment Manufacturer (OEM) Honda North America, Inc. Fund , that will see Honda pay 100 percent of compensatory damages for current and future claimants without any credit for fault placed on Takata, third parties or the victims.
Administrator: Honda North America
Who Qualifies: Anyone injured or killed by a Takata airbag in a Honda or Acura. Those who settled claims previously with Honda through private litigation do not qualify. Honda has agreed to pay regardless of the age of the car or the expiration of a statute of limitations.
Deadline: There is no deadline to apply.
Total Fund Amount: The fund does not have a set amount and all eligible claims will be paid.
How to apply: The form is available online at www.takataspecialmaster.com.
People injured or killed by a Takata airbag in vehicles other than a Honda may still file civil litigation claims against the original equipment manufacturer/automaker. In this instance, a claim form to the IRF should still be submitted.
Individual Restitution Fund (IRF)
Type of Fund: On February 27, 2017, Takata Corporation entered into a plea agreement with the U.S. in the United States District Court for the Eastern District of Michigan on charges relating to certain of its airbags which malfunctioned and injured drivers and passengers. The plea agreement created two restitution funds, including this $125 million fund to be used solely to compensate people who have suffered or will suffer personal injury or wrongful death caused by a Takata Airbag Inflator Defect and who have not already resolved their claims against Takata.
Administrator: Mediator Eric D. Green will oversee claims as the Trustee, and Roger Frankel of Frankel Wyron LLP will serve as the Court appointed Future Claims Representative of TK Holdings, et al.
Who Qualifies: Anyone injured or killed by a Takata airbag who has not already resolved their claims against Takata.
Deadline: August 31, 2018
Total Fund Amount: $125 Million
How to Apply: Claimants may complete and submit the form on their own if they or a loved one were injured by a defective Takata airbag. For cases involving complicated injuries, consulting an attorney prior to completing the form may be beneficial.
Takata Airbag Tort Compensation Trust Fund (TATCTF)
Type of Fund: Established to compensate individuals who have been injured or suffered wrongful death caused by a malfunctioning Takata Airbag Inflator. Takata’s main U.S. subsidiary, TK Holdings Inc., and certain of its affiliates (collectively, the "US Takata Debtors") filed for bankruptcy under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The TATCTF was established in connection with TK Holdings Inc.'s Plan of Reorganization, which was confirmed by the Bankruptcy Court on February 21, 2018. The TATCTF remains subject to the jurisdiction of the Bankruptcy Court. The TATCTF compensates individuals for personal injuries and wrongful death caused by a Takata Airbag Inflator Defect, which could have been brought against the U.S. Takata Debtors.
Administrator: The Bankruptcy Court appointed Professor Eric D. Green as Trustee of the TATCTF.
Who Qualifies: People injured or killed by a Takata Airbag, provided the Claimant has not already resolved his or her claim against Takata.
Deadline: August 31, 2018
Total Fund Amount: The fund is expected to have approximately $250 million available.
How to Apply: The form is available online at www.takataspecialmaster.com.