Takata should file for bankruptcy protection, all five bidders say - sources

Takata should file for bankruptcy protection, all five bidders say - sources
 

All five bidders seeking to bail out Japan's beleaguered Takata Corp (7312.T) have presented restructuring plans that require the air bag maker to file for bankruptcy protection, people with knowledge of the process told Reuters.
But some Japanese creditors have opposed such a filing as it would see them shoulder significant losses, the people said, declining to be identified as the proposals have not been made public.
Takata faces huge costs related to the global recall of millions of potentially faulty air bag inflators, and is seeking an outside investor to increase its capital. The... read more

 
29 September 2016 in Business, Views: 37
Source: Reuters
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