Takata to plead guilty Feb. 27: court documents | Reuters
By David Shepardson | WASHINGTON WASHINGTON Japan's Takata Corp is set to plead guilty Feb. 27 in federal court in Detroit to a single felony count of wire fraud to resolve a U.S.
By David Shepardson
WASHINGTON Japan's Takata Corp is set to plead guilty Feb. 27 in federal court in Detroit to a single felony count of wire fraud to resolve a U.S. Justice Department investigation into ruptures of its air bag inflators linked to at least 16 deaths worldwide, according to a court filing Tuesday.Last month, the auto parts firm agreed to the guilty plea as part of a $1 billion settlement in the world's largest ever recall.U.S. prosecutors also charged three former senior Takata executives in Japan with falsifying test results to conceal the inflator defect linked the recall of about 100 million air bag inflators worldwide.
Takata has agreed to pay a $25 million fine, $125 million in a victim compensation fund, including for future incidents, and $850 million to compensate automakers for massive recall costs, the Justice Department said. The auto parts supplier will be required to make significant reforms and be on probation and under the oversight of an independent monitor for three years.Last month, three senior Takata executives in the United States left the company, including Kevin Kennedy, who was president of Takata North America. Kennedy confirmed his departure in a posting on the employment networking website LinkedIn but did not return emails.
Reuters reported Monday that Key Safety Systems (KSS) Inc has been selected to lead its turnaround, fanning concern that a court-led restructuring was on the cards.The Nikkei business daily, which first reported the news of KSS's selection, said automakers would support the pick on condition Takata pursue a court-mediated turnaround in both Japan and the United States, a move that could wipe out shareholders' equity.
In a statement late on Saturday, Takata denied that it had selected KSS as its sponsor or a court-led restructuring as the way forward. (Reporting by David Shepardson)
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By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
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