A confirmed bankruptcy plan often is only the beginning of Gilbert LLP’s insurance recovery work in mass-tort bankruptcy cases. We are currently engaged as counsel to the Takata Airbag Tort Compensation Trust Fund.
In Chapter 11 proceedings filed by the U.S. subsidiaries of Takata Corporation, a Japanese automotive parts company facing mounting allegations of liability for personal injury and wrongful death resulting from defective airbags it manufactured and sold, the U.S. Bankruptcy Court for the District of Delaware appointed Gilbert LLP in 2017 as insurance counsel to the Official Committee of Unsecured Tort Claimant Creditors. During the bankruptcy proceedings, Gilbert attorneys worked to evaluate and preserve all insurance assets potentially available to pay injured claimants.
Following entry of a plan of reorganization, Gilbert LLP has served as insurance counsel for the Takata Airbag Tort Compensation Trust Fund. Gilbert LLP is using its unique experience in complex international disputes to seek recovery of insurance proceeds from Takata’s Japanese insurers so that these funds can be used to compensate the individuals injured by Takata.