Shumaker Manufacturing

A Legal & Industry Review

Bracing for Takata Bankruptcy

The Wall Street Journal, June 16, 2017 edition, reports that Takata Corporation is preparing a bankruptcy filing, as soon as next week, in both Japan and the United States.  A key reason for the United States’ Chapter 11 filing is to utilize the strategic tool, a Section 363 sale, to consummate a “takeover” deal with rival Key Safety Systems, Inc.  Section 363 allows a Chapter 11 debtor to sell all of its assets to a third party, free and clear of certain liabilities.  Key issues  for creditors in the Chapter 11 case will include the allocation of the purchase price paid; the liabilities assumed by Key Safety Systems, Inc.; and the allocation and impact of the recall costs among Takata’s stakeholders, including the affected automakers.

We hope you found this useful and informative.  Please contact us if you have any questions about this or any other matter. Takata[1]


Globaladvocaten Welcomes New UK Member – Field Seymour Parkes, LLP

We welcome Field Seymour Parks, LLP as a new member of Globaladvocaten, ranked by Chambers Global 2017 as a leading law firm network, which is a collaboration among 24 independent law firms. The network includes over 800 lawyers working out of 41 cities in 27 countries. Member firms are based in major cities worldwide including Amsterdam, Barcelona, Charlotte, Dublin, Geneva, Istanbul, Lisbon, Copenhagen, Madrid, Milan, Moscow, Paris, Prague, Rome, San Francisco, Vienna, Warsaw and Zurich.

Globaladvocaten is a premier resource for Shumaker, enabling us to add value for our clients through the Eurozone. Shumaker is proud to be a member of Globaladvocaten and David Conaway enjoys assisting Globaladvocaten as a board member.

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