Takata Corp.’s U.S. operations, pushed into bankruptcy by the largest automotive recall in U.S. history, settled with two groups representing victims of its faulty air bags, Bloomberg News reported. Two committees for people suing over the air bags have agreed to support a bankruptcy-exit plan that would resolve lawsuits by channeling them into a trust funded in part by the sale of Takata assets. Takata has recalled millions of air bags that had been linked to deaths in the U.S. Defective air bags can explode in car crashes, sending metal shards flying. Japan-based Takata entered a guilty plea last year as part of a $1 billion settlement with the U.S. Justice Department over the air-bag problems. On Tuesday, the company is scheduled to seek final approval of its reorganization plan, which is built on a sale and setting up a trust to handle air-bag claims. The two groups representing the air-bag plaintiffs have agreed to drop their opposition to the plan, according to court documents.
