TK Holdings Inc.

Case No. 17-11375


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Airbag Inflator Recall Message

The commencement of the chapter 11 filing in the U.S. should have no effect on the ability of drivers to get replacements for recalled Takata airbag inflators free of charge.  Vehicle owners should respond to the recall notice that they received or vehicle owners in the U.S. can visit https://www.airbagrecall.com/ for more information on airbag inflator replacements.

Case Information

On June 25, 2017, Takata Corporation’s main U.S. subsidiary TK Holdings Inc. and eleven of its U.S. and Mexican affiliates (the "Debtors") each filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court").  The cases are pending before the Honorable Brendan Linehan Shannon and are jointly administered under Case No. 17-11375 (BLS).

On June 28, 2017, the Debtors also commenced an ancillary proceeding (the "Canadian Proceeding") under the Companies’ Creditors Arrangement Act (Canada), R.S.C. 1985, c. C-36 as amended (the “CCAA”) in the Ontario Superior Court of Justice (Commercial List) (the “Canadian Court”) in Ontario, Canada.  Information regarding the Canadian Proceeding is available at http://cfcanada.fticonsulting.com/TKHoldingsInc/default.htm.

Takata Corporation, Takata Kyushu K.K., and Takata Service K.K. (collectively, “Takata Japan”), have commenced a proceeding under the Civil Rehabilitation Act (“CRA”) in Tokyo, Japan. Takata Japan is seeking recognition of the CRA proceeding by the Bankruptcy Court under Chapter 15 of the Bankruptcy Code. Parties who believe they have claims against Takata Japan can obtain information about the CRA proceeding, including the deadline to file claims at http://www.takata.com.

Important Information & Dates

Useful Links

June 26, 2017 Press Release

Frequently Asked Questions for Suppliers / Preguntas frecuentes para proveedores

Frequently Asked Questions for Owners of Recalled Vehicles / Preguntas frecuentes para propietarios de vehículos llamados a revisión

Notice of Commencement / Notificación de Inicio

Bar Date Notice / Notificación de Fecha Límite para Presentar Reclamaciones

Disclosure Statement Hearing Notice / Aviso de Audiencia sobre la Declaración de Divulgación

Confirmation Hearing Notice / Notificación de confirmación de audiencia;n Hearing re-scheduled for Friday, February 16, 2018 at 10:30 a.m. ET

Plan and Disclosure Statement

On November 3, 2017, the Debtors filed their Chapter 11 Plan of Reorganization (the "Plan") and on November 15, 2017 filed the Disclosure Statement related thereto (the "Disclosure Statement"). The Bankruptcy Court held a hearing to, among other items, consider the adequacy of the Disclosure Statement on January 3, 2018, and held a hearing to consider confirmation of the Plan on February 16, 2018.  An order confirming the Fifth Amended Joint Chapter 11 Plan of Reorganization was entered on February 21, 2018 (the "Confirmation Order"), and on April 10, 2018, the Effective Date of the Plan occurred and the Plan was substantially consummated.

Pursuant to the terms of the Plan and the Confirmation Order, a “Trust” (i.e., the PSAN PI/WD Trust, as defined in the Plan, which will be known as the “Takata Airbag Tort Compensation Trust Fund”) will be created and funded to compensate holders of certain personal injury and wrongful death claims, as defined in the Plan, the Confirmation Order and related Trust documents, caused by (i) malfunctions of certain Takata Airbag PSAN Inflators, and (ii) Takata products other than PSAN Inflators. Information about the Takata Airbag Tort Compensation Trust Fund can be found at www.TakataAirbagInjuryTrust.com.

Please click below to view and download all documents related to the Plan and Disclosure Statement:

Plan and Disclosure Statement

Deadline to File Claims

On October 4, 2017, the Bankruptcy Court entered an order [Docket No. 959] (the "Bar Date Order") establishing deadlines for filing proofs of claim in the Debtors’ chapter 11 cases, including a deadline for asserting claims against any Debtor for monetary losses, personal injury, or death (whether past or future) arising out of or relating to an airbag containing phase-stabilized ammonium nitrate propellant (“PSAN Inflators”), or their component parts, manufactured or sold by the Debtors or their affiliates prior to the Petition Date (each a “PPIC Claim”).

The Bar Date Order sets the following deadlines for filing proofs of claim against the Debtors:

  • General Bar Date (For claims against any of the Debtors other than (i) PPIC Claims and (ii) claims of Governmental Units): November 27, 2017 at 5:00 p.m. (Eastern Time)
  • PPIC Claims Bar Date: December 27, 2017 at 5:00 p.m. (Eastern Time)
  • Governmental Unit Bar Date: December 22, 2017 at 5:00 p.m. (Eastern Time)

Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim, other than a general unsecured PPIC Claim, against the Debtors.  For more information about filing a PPIC Claim, please visit http://TKRestructuring.com/PPIC.

Hearing on First Day Motions

A hearing on the Debtors' First Day Motions was held on Tuesday, June 27, 2017 at 1:30 (ET) before the Honorable Brendan Linehan Shannon, United States Bankruptcy Court for the District of Delaware, US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #5, Wilmington, Delaware.  A final hearing on certain of the First Day Motions was held on July 26, 2017 and August 10, 2017.

Please click below to view and download the Debtors' First Day Motions and the First Day Orders:

First Day Motions

First Day Orders


Dates

February 11 2020 Omnibus Hearing 10:30 a.m. (ET) Order Scheduli... Add to Calendar
January 8 2020 Omnibus Hearing 9:30 a.m. (ET) Order Scheduli... Add to Calendar
+ SHOW ALL DATES
June 25 __ 2017
June 27 1:30 p.m. (ET) 2017
July 18 1:00 p.m. (ET) 2017
July 26 11:00 a.m. (ET) 2017
August 9 10:00 a.m. (ET) 2017
August 10 2:30 p.m. (ET) 2017
August 30 1:00 p.m. (ET) 2017
August 31 10:00 a.m. (ET) 2017
September 11 10:00 a.m. (EDT) 2017
September 18 10:00 a.m. (ET) 2017
October 2 10:00 a.m. (ET) 2017
October 17 10:00 a.m. (ET) 2017
October 30 10:00 a.m. (ET) 2017
November 7 9:30 a.m. (EST) 2017
November 13 10:00 a.m. (ET) 2017
November 20 10:00 a.m. (ET) 2017
November 27 5:00 p.m. (ET) 2017
General Claims Bar Date Add to Calendar
December 5 10:00 a.m. (ET) 2017
December 18 10:00 a.m. (ET) 2017
December 27 5:00 p.m. (ET) 2017
Deadline to file PPIC Claims Add to Calendar
January 3 10:00 a.m. (ET) 2018
January 17 10:30 a.m. (ET) 2018
January 17 10:30 a.m. (ET) 2018
January 29 10:00 a.m. (ET) 2018
February 6 10:00 a.m. (ET) 2018
February 16 10:00 a.m. (ET) 2018
February 26 10:00 a.m. (ET) 2018
February 26 10:00 a.m. (ET) 2018
February 21 __ 2018
March 13 10:00 a.m. (ET) 2018
March 26 10:00 a.m. (ET) 2018
April 10 __ 2018
April 25 1:30 p.m. (ET) 2018
May 15 10:00 a.m. (ET) 2018
June 26 10:00 a.m. (ET) 2018
July 24 10:30 a.m. (ET) 2018
August 29 10:00 a.m. (ET) 2018
September 26 10:00 a.m. (ET) 2018
October 25 10:00 a.m. (ET) 2018
November 29 10:00 a.m. (ET) 2018
January 23 10:00 a.m. (ET) 2019
February 21 10:00 a.m. (ET) 2019
March 27 1:30 p.m. (ET) 2019
April 23 10:00 a.m. (ET) 2019
May 29 10:30 a.m. (ET) 2019
June 26 10:30 a.m. (ET) 2019
July 24 9:30 a.m. (ET) 2019
August 28 9:30 a.m. (ET) 2019
September 25 9:00 a.m. (ET) 2019
October 23 10:30 a.m. (ET) 2019
November 25 11:00 a.m. (ET) 2019
February 11 10:30 a.m. (ET) 2020
January 8 9:30 a.m. (ET) 2020

Parties

Debtors' Counsel

  • Weil, Gotshal & Manges LLP

    767 Fifth Avenue
    New York, NY   10153
    https://www.weil.com/
    Phone: 212.310.8000
    Fax: 212.310.8007

    Marcia L. Goldstein
    Ronit J. Berkovich
    Matthew P. Goren

  • Richards, Layton & Finger, P.A.

    920 N. King Street
    Wilmington, DE   19801
    http://www.rlf.com/
    Phone: 302.651.7700
    Fax: 302.651.7701

    Mark D. Collins

Counsel to Unsecured Creditors Committee

  • Milbank, Tweed, Hadley & McCloy LLP (NY)

    28 Liberty Street
    New York, NY   10005
    https://www.milbank.com/en/
    Phone: 212.530.5770
    Fax: 212.822.5770

    Dennis F. Dunne
    Abhilash M. Raval
    Tyson Lomazow
    Mary Reidy Doheny

  • Milbank, Tweed, Hadley & McCloy LLP (DC)

    1850 K. Street, NW
    Suite 1100
    Washington, DC   10005
    https://www.milbank.com/en/
    Phone: 202.835.7574
    Fax: 202.263.7574

    Andrew Leblanc

  • Whiteford, Taylor & Preston, LLC

    The Renaissance Centre
    405 King Street, Suite 500
    Wilmington, DE   19801
    https://www.wtplaw.com/
    Phone: 302.357.4144

    Christopher M. Samis
    L. Katherine Good
    Kevin F. Shaw

Counsel to Tort Claimant Creditors Committee

  • Pachulski Stang Ziehl & Jones, LLP

    919 N. Market Street, 17th Floor
    P.O. Box 8705
    Wilmington, DE   19899
    http://www.pszjlaw.com/
    Phone: 302.652.4100
    Fax: 302.652.4400

    Laura Davis Jones
    James I. Stang

United States Trustee and Court Information

Debtors

Case Number Debtor Name Petition Date
Case Number 17-11375 Debtor Name TK Holdings Inc. Petition Date June 25, 2017
Case Number 17-11372 Debtor Name Takata Americas Petition Date June 25, 2017
Case Number 17-11373 Debtor Name TK Finance, LLC Petition Date June 25, 2017
Case Number 17-11374 Debtor Name TK China, LLC Petition Date June 25, 2017
Case Number 17-11376 Debtor Name Takata Protection Systems Inc. Petition Date June 25, 2017
Case Number 17-11377 Debtor Name Interiors in Flight Inc. Petition Date June 25, 2017
Case Number 17-11378 Debtor Name TK Mexico Inc. Petition Date June 25, 2017
Case Number 17-11379 Debtor Name TK Mexico LLC Petition Date June 25, 2017
Case Number 17-11380 Debtor Name TK Holdings de Mexico S. de R.L. de C.V. Petition Date June 25, 2017
Case Number 17-11381 Debtor Name Industrias Irvin de Mexico, S.A. de C.V. Petition Date June 25, 2017
Case Number 17-11382 Debtor Name Takata de Mexico, S.A. de C.V. Petition Date June 25, 2017
Case Number 17-11383 Debtor Name Strosshe-Mex, S. de R.L. de C.V. Petition Date June 25, 2017