Takata Encourages Creditors to Visit TKRestructuring.com/PPIC Website for Information on Chapter 11 Cases

WILMINGTON, Del., Nov. 6, 2017 /CNW/ -- On June 25, 2017 (the "Petition Date"), TK Holdings Inc. and certain of its affiliates (collectively, the "Debtors") filed chapter 11 cases (the "Chapter 11 Cases") in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). The Debtors are subsidiaries of Takata Corporation, a Japanese corporation engaged in the manufacture and sale of automotive components, including airbag inflators. Takata Corporation filed a bankruptcy proceeding in Japan.

The Debtors encourage individuals who own, or may have owned, vehicles equipped with certain airbag inflators manufactured by the Debtors or their affiliates that contain phase-stabilized ammonium nitrate ("PSAN Inflators") to visit the website tkrestructuring.com/PPIC and carefully review information about the Chapter 11 Cases and the process for filing a proof of claim against the Debtors. Information on this website is available in 22 languages, and interested individuals may register their email addresses to receive notifications of important developments in the Chapter 11 Cases.

The Bankruptcy Court has established the following deadlines for filing proofs of claim against the Debtors:

(a) For claims against any of the Debtors other than (i) claims of Governmental Units (as defined below) and (ii) claims that relate to or arise from PSAN Inflators manufactured by the Debtors of their affiliates prior to the Petition Date ("PPIC Claims"), the deadline to file a proof of claim is November 27, 2017 at 5:00 p.m. (Eastern Time);

(b) For PPIC Claims, the deadline to file a proof of claim is December 27, 2017 at 5:00 p.m. (Eastern Time); and

(c) For claims against any Debtor asserted by a governmental unit (as defined in Bankruptcy Code section 101(27)), the deadline to file a proof of claim is December 22, 2017 at 5:00 p.m. (Eastern Time) (the "Governmental Bar Date").

Individuals should contact their local dealership to determine if they have a PSAN Inflator. For more information about recalls of PSAN Inflators (including information about obtaining a replacement inflator), visit www.AirbagRecall.com, https://www.nhtsa.gov/recall-spotlight/takata-air-bags, http://www.tc.gc.ca/eng/motorvehiclesafety/safevehicles-defectinvestigations-1433.html, http://www.mlit.go.jp/en/jidosha/vehicle_recall_17.html, respond to the recall notice (to the extent you received one), or contact your local dealership.  The Chapter 11 Cases should not impact the ability of drivers to get replacements for recalled PSAN Inflators free of charge.

SOURCE TK Holdings