Johnhav430

I find bankruptcy to be a very curious legal instrument. It's as if nobody got hurt as a result. There was one co. that comes to mind, in telecom, that rang the opening bell to the NYSE recently? HUH? You went bankrupt and didn't pay your creditors, now you are a public co. again and cheering? I find this bizarre.

Anyway, through no choice of my own, I am a member in the Takata class action. Would be curious what they would pay the class, it had been already agreed to last Fall.

Now it appears they've settled with those who were injured by their products.

edit link

https://www.seattletimes.com/busines...it-bankruptcy/

mmarshall

Maybe, from now on, automakers will do more of their own work and development, instead of depending on sub-contractors.

mmarshall

Were you actually injured by a defective Takada product?

Johnhav430

No, I would have to reread the paperwork (find it), but BMW, Honda, Toyota, Mazda, Subaru, forget which else, all had class actions against Takata. My understanding is that one day, a check will come in the mail, by default. One would have to opt out to not get the check (the idea is you don't agree and are not waiving any rights). From memory, BMW and Honda handled it the best, where they provided loaner cars for everyone affected. In BMWs case, this basically meant months to years--administratively speaking, I bet people got loaners that don't even own BMWs anymore (next time consult Amazon to get your process down pat), but that's their problem to solve. Honda, had deaths, however. To contrast, Mercedes Benz unequivocally stated, death and injury may result if you drive your affected vehicle, but to date, there has not been a single documented case of death, therefore, loaner cars are not warranted. I found that to be a bit harshly stated.

I had a 2016 loaner car for 4 1/2 mos., so I can't knock BMW. That's good faith. They're even providing loaner cars for the blower motor recall, which I did not partake in, because I just don't think I'm that worried about the blower motor and don't need a loaner in that case, nor do I have the room for a 5th car in the driveway (could catch fire but I've had the car 11 years and I feel ok with it). So for all the knocks that BMW takes on our forum, at least they demonstrate good faith, maybe better than a lot of car cos, I mean I wish I had $10 for everytime a person said they had a serious problem with a used car, and BMW paid for > 50% of the out-of-warranty repair.....