BOSTON, Aug. 23, 2021 /PRNewswire/ -- The following statement is being issued by Professor Eric D. Green, Special Master for the Department of Justice's Takata Airbag Individual Restitution Fund and Trustee of the Tort Compensation Trust Fund Created in the Takata Bankruptcy Cases.
Takata Defective Airbag
Professor Eric D. Green, as Special Master and Trustee, announced a compensation program in May 2018 for individuals who have suffered or will suffer personal injury or wrongful death caused by the rupture or aggressive deployment of a Takata phase-stabilized ammonium nitrate airbag inflator (a "Takata Airbag Inflator Defect"). Under that program, claimants may seek compensation from the Department of Justice's $125 million Individual Restitution Fund ("IRF") and/or the approximately $140 million Takata Airbag Tort Compensation Trust Fund ("TATCTF"). The claim process is ongoing and eligible claimants still have time to act.
There are three types of claims that can be brought by individuals who suffered injury or wrongful death caused by a Takata Airbag Inflator Defect: (i) an "IRF Claim" against Takata for compensation from the IRF, the personal injury and wrongful death restitution fund overseen by the Special Master and established under the Restitution Order entered by the United States District Court for the Eastern District of Michigan in connection with the Department of Justice's criminal case against Takata, U.S. v. Takata Corporation, Case No. 16-cr-20810 (E.D. Mich.); (ii) a "Trust Claim" against Takata for compensation from the TATCTF, the personal injury and wrongful death trust fund overseen by the Trustee and established in connection with Takata's Chapter 11 Plan of Reorganization in the Bankruptcy Court for the District of Delaware, and (iii) a "POEM Claim" against a Participating Original Equipment Manufacturer (a "POEM;" presently the only POEM is Honda/Acura) for compensation from the POEM, which must be resolved through the TATCTF overseen by the Trustee.
Each of these three types of claims has its own eligibility requirements; however, each claim type covers only physical injuries and wrongful death resulting from a Takata Airbag Inflator Defect. Claims related to injuries or wrongful death caused by other airbag components -- such as airbag failure to deploy, spontaneous airbag deployment, crash injuries unrelated to the inflator, or economic losses unrelated to physical injuries or death -- are not covered by the three types of claims described above.
Individuals can access the claim forms, which include detailed instructions regarding how to file a claim, on the IRF website, www.takataspecialmaster.com, or on the TATCTF website, www.TakataAirbagInjuryTrust.com.
Oversight of the Claims Process and Resources for More Information
Professor Green was appointed by the District Court to serve as the Special Master overseeing IRF Claims and was appointed by the Bankruptcy Court to serve as the Trustee overseeing Trust Claims and POEM Claims.