As part of our implementation of the Takata Airbag Tort Compensation Trust Fund and the Individual Restitution Fund, we are continually monitoring the number and severity of submitted and eligible claims and the projections of future claims in order to be sure that the Trust and the Fund will be able to compensate all eligible claims consistently. Recently, an unexpected increase in the value of eligible claims has created concerns about whether the current point values are sustainable over the projected lives of the Trust and the Fund. In response, the Trust and Fund have asked its claim administrators and economic experts to reexamine their projections and cash flow analyses and to advise the Trust and Fund of any actions that should be taken, including but not limited to changes in the dollar value of an awarded compensation point, to ensure consistent, sustainable treatment of claimants through the projected lives of the Trust and Fund. This process may take some weeks to complete. In the meantime, the Trust and Fund will hold off making any new award valuations. Outstanding valuations will be honored at the current point values.
IMPORTANT ANNOUNCEMENT BY THE SPECIAL MASTER
This website is intended to provide information about the Individual Restitution Fund (“IRF”) established by the United States District Court for the Eastern District of Michigan (the “District Court”) as part of Takata’s criminal plea.
On February 21, 2018, the Bankruptcy Court confirmed Takata’s Chapter 11 Bankruptcy Plan of Reorganization (the “Plan”). The Plan created a new Trust, the Takata Airbag Tort Compensation Trust Fund (“TATCTF”), which will also compensate individuals who have suffered personal injury or wrongful death caused by the rupture or aggressive deployment of a Takata phase-stabilized ammonium nitrate (“PSAN”) airbag inflator (a “Takata Airbag Inflator Defect”).
The IRF is separate from the TATCTF, but the two funds will complement each other and work in tandem.
Claimants who have suffered personal injury or wrongful death caused by a Takata Airbag Inflator Defect will be able to seek compensation from both the IRF and the TATCTF with one single claim form, either a Personal Injury Claim Form or a Wrongful Death Claim Form. A Personal Injury or Wrongful Death Claimant may bring up to three different types of claims using a single claim form: an IRF Claim, a Trust Claim, or a claim against a Participating OEM (automobile manufacturer).
For detailed information about the types of claims that may be brought, eligibility criteria, filing deadlines and other important information, please review the TATCTF website, including the FAQs posted there. Please note that Claim Forms will be posted starting on May 30, 2018 and the IRF and TATCTF will begin accepting claims on that date.
Eric D. Green serves as both the Special Master of the IRF and the Court-appointed Trustee of the TATCTF.
Only individuals who have suffered personal injury or wrongful death caused by a Takata Airbag Inflator Defect may seek compensation from the IRF and the TATCTF.
** IMPORTANT: Vehicle airbag and inflator parts should be retained at least until
an inspection has been made in connection with the vehicle involved in the accident.**
Information about Takata’s Bankruptcy Case is available here.
Please continue to check this website for further developments.
Updated 5.9.2018
This is the website of the Takata Individual Restitution Fund (the “IRF”). This site is intended to assist Claimants seeking compensation for personal injury or wrongful death caused by a Takata Airbag Inflator Defect.
On February 27, 2017, Takata Corporation entered into a plea agreement with the United States 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: (1) a $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 (the IRF); and (2) an $850 million fund to compensate the automakers who were the direct victims of the unlawful actions of Takata resolved by the plea agreement (the OEM Restitution Fund). The appointment of a Special Master to administer the two restitution funds was also required by the plea agreement.
On July 31, 2017, Eric D. Green was appointed by United States District Court Judge George Caram Steeh in the Eastern District of Michigan to serve as the Special Master to administer the Takata restitution funds. For the IRF, the Special Master is responsible for developing and administering the Claimant compensation process, and for making recommendations to the Court regarding the distribution of funds among Claimants.
For general information about the Takata airbag recall, and the defect in certain Takata airbag inflators, please visit https://www.nhtsa.gov/recall-spotlight/takata-air-bags.
For information about the Takata Plea Agreement click here.
If you have any questions, please email us at Questions@TakataSpecialMaster.com or call us toll-free at (888) 215-9544.
This website will be updated periodically. Please continue to check back.
