Takata subsidiary’s Chapter 11 plan confirmation order draws appeal

By Caroline Salls

Pittsburgh, Feb. 23 – The states of Hawaii and New Mexico and the Government of the U.S. Virgin Islands appealed the confirmation of Takata Corp. subsidiary TK Holdings Inc.’s plan of reorganization, according to a notice filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The plan was confirmed on Feb. 21.

Hawaii, New Mexico and the U.S. Virgin Islands said they were appealing the order as “defendants” in the TK Holdings Chapter 11 case.

Tokyo-based Takata manufactures and sells motor vehicle seat belts, airbags, steering wheels, interior trims and child restraint systems. TK Holdings filed for bankruptcy on June 25, 2017 under Chapter 11 case number 17-11375.

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