Takata goes bust

The Japanese manufacturer of defective airbags has imploded in the face of an estimated US$10 billion to US$15bn in liabilities. Takata officially filed for bankruptcy last month, before selling the majority of its assets to Detroit-based airbag manufacturer Key Safety Systems for US$1.6 billion. Takata’s airbag division will close in 2020 when it completes the manufactur of replacement inflators to comply with the terms of the 100 millionstrong recall.