Posts Tagged ‘gm fund’

GM Fund Denies 91 Percent of Ignition Recall Claims

Automaker faces hundreds of wrongful death lawsuits.

by on Aug.25, 2015

GM's compensation fund for victims of its faulty ignition switch denied 91% of the claims filed.

The team handling the fund established by General Motors completed processing the more than 4,300 claims submitted, denying 91% of them.

GM recalled nearly 2.6 million small cars last year due to a faulty ignition switch. The switch allowed the ignition to move from the “on” to the “accessories” position, cutting the power to the car’s power steering and airbag.

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Led by Kenneth Feinberg, the attorney who oversaw similar funds for BP, 9/11 victims and other events, the fund approved 399 of the 4,343 claims filed and rejected 3,944. (more…)

GM Gets Deadline Flurry of Compensation Claims

Fund receives 455 total filings for death benefits.

by on Feb.03, 2015

GM saw 1,100 new filings for benefits from its victims compensation fund just before the Jan. 31 deadline.

The Jan. 31 deadline for claims to General Motors’ victim compensation fund spurred a flurry of 1,100 new filings.

The rush brought the total number of filings to 4,180, including 455 death benefits: an increase from 338 the week prior. Claims for the most severe injuries rose to 278, up from 224 a week earlier, and filings for less severe injuries jumped to 3,447 from 2,508 a week earlier.

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The fund is administered by Kenneth Feinberg, an attorney whose firm oversaw similar funds related to the BP oil spill and other issues, who said in a radio interview yesterday that he expects the total number of filings to rise a bit more because any claims post marked for Jan. 31 will be accepted. (more…)

General Motors Ignition Switch Death Count Rises to 30

Feinberg approves two more claims for benefits.

by on Oct.27, 2014

Kenneth Feinberg, administrator fo GM's victims compensation fund, approved two more claims for death benefits.

The number of deaths attributable to General Motors’ faulty ignition switch in 2.6 million recalled vehicles has risen to 30. The count has steadily increased since Aug. 1, when the maker acknowledged 13 deaths.

The automaker established a victims’ fund, which is administered by Kenneth Feinberg, to compensate victims and their families for deaths and serious injuries. Feinberg began accepting claims on Aug. 1. In addition to the deaths, Feinberg approved the claims for 31 injuries.

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Four of the injuries are “Category One,” which includes physical Injuries resulting in quadriplegia, paraplegia, double amputation, permanent brain damage or pervasive burns. (more…)

No Cap to GM Victims’ Compensation Fund – Anyone Injured, Killed Eligible

Thousands could receive “prompt” payouts, says program’s administrator.

by on Jun.30, 2014

GM victims' fund czar Kenneth Feinberg.

There will be no limit to the amount of money available for a new victims’ compensation program set up to cover those injured or killed due to crashes caused by the faulty ignition switches in General Motors vehicles, announced Kenneth Feinberg, the new program’s administrator.

The program, to be funded by GM, will begin taking claims from victims or their families on August 1st, has been designed to deliver “prompt” payment for those considered eligible, said Feinberg during a news conference in Washington, D.C. He noted that the voluntary program will not provide for punitive damages but could still deliver compensation running up to $7 million or beyond based on a series of hypothetical situations Feinberg outlined.

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Significantly, the program will be open even to those who had previously settled a lawsuit with GM due to an ignition switch crash. And, Feinberg noted, “Any contributing negligence of the driver, intoxications, speeding, texting, will be irrelevant under this program. This is about GM and ignition switches…not anything about the driver.”