There is now a process for getting compensation for Takata airbag-related personal injury or wrongful death claims. The court appointed Professor Eric D. Green to serve as Special Master of the Takata Individual Restitution Fund (IRF). Green is also the Trustee of the Takata Airbag Tort Compensation Trust Fund (TATCTF). The two funds have a combined total of $265 million.
People who suffered injury or death from defective Takata airbags must select one of these three types of claims:
- IRF claim: The funds for these claims come from the Department of Justice’s criminal case against Takata. The federal court ordered Takata to set up a restitution fund of $125 million to compensate victims.
- Trust claim: The bankruptcy court in Takata’s Chapter 11 Reorganization case (bankruptcy) required Takata to set aside $140 million in a trust fund (TATCTF) for injury and wrongful death claims.
- POEM claim: These claims go after the Participating Original Equipment Manufacturer (POEM), although the funds come out of the TATCTF. Right now, Honda/Acura is the only manufacturer participating in the POEM claims program.
Green oversees all three types of claims. Each type of claim has different requirements for eligibility. The claim categories cover only personal injury or wrongful death – economic losses are not compensated. Also, these claim options only provide the possibility of compensation for Takata airbag inflator defects, specifically, for the rupture or aggressive deployment of an airbag from a defective Takata phase-stabilized ammonium nitrate airbag inflator.
The funds will not pay damages if you sustained injuries or a loved one died from:
- An airbag that failed to deploy
- An airbag that spontaneously deployed
- Other injuries from the crash that are not related to the airbag inflator
The Takata airbag personal injury and wrongful death lawyers at Newsome Melton can answer your questions about the claims process and evaluate whether you might be eligible for compensation. Please call us at 888-808-5977 for a free consultation.