Proceedings.

TK Holdings Inc.

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Active
Proceeding
Foreign recognition (CCAA)Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
Court
Ontario Superior Court of Justice
File
CV-17-11857-00CL
Industry
Manufacturing · Vehicles, parts & aerospace
Filings held39
Last activity18 May 2018
On the record3,417 days
OverviewSummary updated

TK Holdings Inc. is the subject of an active foreign recognition proceeding under section 46 of the Companies' Creditors Arrangement Act, brought in the Ontario Superior Court of Justice (Commercial List) under court file CV-17-11857-00CL and commenced June 28, 2017, the same day an initial order was made. Among the obligations recorded against TK Holdings are a civil penalty owed to the United States National Highway Traffic Safety Administration in connection with recalls, of which USD $50 million of USD $70 million in non-contingent penalties remains outstanding and due by October 2020, and criminal fine and restitution obligations arising from a plea agreement with the U.S. Department of Justice, of which USD $850 million remains outstanding and must be satisfied in full by February 27, 2018.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Claims Process dated 28 June 2017.

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Case updates39 dated entries
#Report

The officer filed report no. Third Report. The report is a recognition-proceeding report on the Chapter 11 Plan: Takata's businesses continue as a going concern, with substantially all non-PSAN assets being sold to the Plan Sponsor (Joyson KSS) under the plan and about 14,000 employees' jobs preserved. Certain PSAN-related assets stay with the Reorganized Debtors to continue limited PSAN inflator production for recalls.

Source: Information Officer's Third Report

#Report

The officer filed report no. Second Report. The report covers Canadian recognition proceedings for Takata's Chapter 11 and Japanese insolvencies. It describes the proposed global sale of substantially all of Takata's operations to Key Safety Systems, the U.S. plan and disclosure statement hearings, and the extended third-party litigation stay through February 27, 2018.

Source: Information Officer's Second Report

Parties

Debtor

TK Holdings Inc.

Information officer

FTI

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice HaineyOntario Superior Court of Justice3 orders, Sep 2017 – May 2018211 cases on record

Counsel of record

PartyCounselFirst seenSource
Foreign representativeMcCarthy Tétrault LLP19 Apr 2018Service list · 19 Apr 2018
Foreign representativeJapaneseBAKER & McKENZIE LLP19 Apr 2018Service list · 19 Apr 2018
CreditorBMW Canada IncFasken Martineau DuMoulin LLP19 Apr 2018Service list · 19 Apr 2018
CreditorGeneral Motors Company and General Motors of Canada LimitedBennett Jones LLP · Borden Ladner Gervais LLP · Lerners LLP19 Apr 2018Service list · 19 Apr 2018
CreditorHonda Canada IncMcMillan LLP19 Apr 2018Service list · 19 Apr 2018
CreditorInformation OfficerBennett Jones LLP19 Apr 2018Service list · 19 Apr 2018
CreditorMazda Motor Corporation and Mazda Canada IncStikeman Elliott LLP19 Apr 2018Service list · 19 Apr 2018
CreditorMercedes-Benz Canada IncDentons Canada LLP19 Apr 2018Service list · 19 Apr 2018
CreditorMitsubishi Motor Sales of Canada IncTheall Group LLP19 Apr 2018Service list · 19 Apr 2018
CreditorSubaru Canada IncDentons Canada LLP19 Apr 2018Service list · 19 Apr 2018
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
Priority classCreditorAmountSource
UnsecuredUnited States Department of Justice, Criminal Division, Fraud Section / U.S. Attorney's Office for the Eastern District of MichiganPlea agreement totaled a USD $25 million criminal fine plus USD $975 million in restitution payments; USD $850 million of that total remains outstanding and must be satisfied in full by February 27, 2018. Regulatory/quasi-governmental obligation (criminal fine/restitution).$850M USDInformation Officer's First Report
Unsecured

1 more claim in 1 class The stack holds Unsecured claims.

Every creditor and every amount, drawn to scale.

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RecoveriesAs stated in the filings

Unsecured creditors: a distribution.Under the plan · vote pendingInformation Officer's Third Report · 8 Mar 2018

ClassCreditorClaimsRecoveryBasisSource
SecuredClass 1 (secured claim)—paid in fullconditionalUnder the planvote pendingper the monitorInformation Officer's Third Report · 8 Mar 2018
UnsecuredGeneral Unsecured Claims (Class 4, 5, 6, or 7)—Under the planvote pendingper the monitorInformation Officer's Third Report · 8 Mar 2018

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

1 blurred figure above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

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Documents
39 filings
DateDocumentFile
Order and Endorsement of Justice Hainey recognizing the Japanese Sale Approval
  • Presiding officer Justice Hainey
PDF · Subscribers
a) Amended Motion Record - this Amended Motion Record is the same as the Motion Record previously served upon you on April 13, 2018 except for the marked changes to the Amended Notice of Motion and Draft Order to reflect the updated motion date, an additional request to correct an erroneous date in the previously-issued Confirmation Recognition Order and an abridgment of the time for service;PDF · Subscribers
b) Factum of the Japanese Foreign Representative; andPDF · Subscribers
c) Brief of Authorities of the Japanese Foreign Representative.PDF · Subscribers
Information Officer's Fourth Report
  • Operational summary Takata completed the Global Transaction on April 10, 2018, transferring substantially all non-PSAN Inflator assets worldwide to KSS, while continuing to face significant liabilities related to PSAN Inflators and Canadian litigation; Takata has no assets or operations in Canada aside from professional retainers.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Service List as of April 19, 2018
  • Counsel Borden Ladner Gervais LLP
PDF · Subscribers
Motion Record of the Foreign Representatives for the motion seeking to recognize the Japanese Sales Approval, returnable on May 14, 2018 before Justice Hainey.PDF · Subscribers
Endorsement of Justice Hainey dated March 14, 2018PDF · Subscribers
US Confirmation Recognition OrderPDF · Subscribers
Information Officer's First Report
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Information Officer's Second Report
  • Operational summary The report covers Canadian recognition proceedings for Takata's Chapter 11 and Japanese insolvencies. It describes the proposed global sale of substantially all of Takata's operations to Key Safety Systems, the U.S. plan and disclosure statement hearings, and the extended third-party litigation stay through February 27, 2018.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Information Officer's Third Report
  • Operational summary The report is a recognition-proceeding report on the Chapter 11 Plan: Takata's businesses continue as a going concern, with substantially all non-PSAN assets being sold to the Plan Sponsor (Joyson KSS) under the plan and about 14,000 employees' jobs preserved. Certain PSAN-related assets stay with the Reorganized Debtors to continue limited PSAN inflator production for recalls.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Claims Process Recognition Order
  • Presiding officer Justice Hainey
PDF · Subscribers
Endorsement of Claims Recognition OrderPDF · Subscribers
Second Day Recognition OrderPDF · Subscribers
Takata - Brief of Authorities - Claims Processes and Second Day Orders - October 5, 2017PDF · Subscribers
Takata - Factum - Claims Processes and Second Day Orders - October 5, 2017PDF · Subscribers
Takata - Motion Record (Vol I of II) - Claims Processes and Second Day Orders - October 5, 2017PDF · Subscribers
Takata - Motion Record (Vol II of II) - Claims Processes and Second Day Orders - October 5, 2017PDF · Subscribers
Endorsement of Justice Hainey
  • Presiding officer Justice Hainey
PDF · Subscribers
Japanese Recognition OrderPDF · Subscribers
TKJP - Brief of Authorities - Japanese Recognition - August 24, 2017PDF · Subscribers
TKJP - Factum - Japanese Recognition - August 24, 2017PDF · Subscribers
TKJP - Motion Record - Japanese Recognition - August 24, 2017PDF · Subscribers
Application Record of TK Holdings Inc. - June 27, 2017PDF · Subscribers
Brief of Authorities of TK Holdings Inc. - June 27, 2017PDF · Subscribers
Factum of TK Holdings Inc. - June 27, 2017PDF · Subscribers
Supplemental Application Record (Part 1 of 2) - June 28, 2017
  • Commencement date 28 June 2017
  • Court SUPERIOR COURT OF JUSTICE
  • Province ONTARIO
PDF · Subscribers
Supplemental Application Record (Part 2 of 2) - June 28, 2017PDF · Subscribers
Claims ProcessPDF · Subscribers
Initial Recognition Order of the Foreign Main Proceedings - dated June 28, 2017
  • Applicant TK Holdings Inc.
  • Commencement date 28 June 2017
  • Court ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
  • Court file no CV-17-11857-00CL
  • + 3 more extracted facts
PDF · Subscribers
Supplemental Order of the Foreign Main Proceedings - dated June 28, 2017PDF · Subscribers
Brief_of_Authorities_-_Plan_Recognition
  • Applicant TK HOLDINGS INC. AND TAKATA CORPORATION
  • Court SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
  • Court file no CV-17-11857-00CL
  • Province ONTARIO
  • + 1 more extracted fact
PDF · Subscribers
Factum_-_Plan_RecognitionPDF · Subscribers
Plan_Recognition_(Vol_III_of_V)PDF · Subscribers
Plan_Recognition_(Vol_II_of_V)PDF · Subscribers
Plan_Recognition_(Vol_IV_of_V)PDF · Subscribers
Plan_Recognition_(Vol_I_of_V)PDF · Subscribers
Plan_Recognition_(Vol_V_of_V)PDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “TK Holdings Inc.” (Foreign recognition (CCAA)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/tk-holdings-inc

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Sources last checked · summary updated 20 August 2026 · Report a correction · Printed from proceedings.ca/case/tk-holdings-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.

TK Holdings Inc. — CCAA recognition | Proceedings.