In a press conference announcing General Motors ignition-switch settlement fund, GM attorney compensation expert Kenneth Feinberg announced that there will be no limit on what he can pay to ensure that victims are properly compensated.
“GM has basically said whatever it costs to pay any eligible claims under the protocol, they will pay it. There is no ceiling.” – Kenneth Feingberg as published by US News
During the announcement, Feinberg assured that He and he alone will decide how much each victim affected by accidents involving certain recalled General Motors vehicles will be paid – GM will have no say in the payment amounts.
While Feinberg would not comment on the ultimate cost GM may be facing, financial experts claim the fund could result in the automaker paying hundreds of millions of dollars in compensation, if not billions.
Feinberg stated that all those injured in auto accidents involving the recalled vehicles in which airbags did not deploy would be eligible for the settlement fund. This includes drivers, passengers, occupants of other vehicles, and even pedestrians who may have been struck after a recalled vehicle lost control.
When asked whether GM would cover accidents in which drivers were able to power their vehicles back on, resulting in airbag deployment, Feinberg stated that those cases would be looked at on an individual bases.
Thomas J. Henry is representing more than 1,000 GM recall victims across the United States and has been investigating injuries and deaths linked to the recall since day one. The firm launched a nationwide media investigation into the recall in April, which brought forth thousands of affected individuals who had information critical to the investigation – information that the firm has handed over to federal agencies also investigating GM’s sluggish response the recall.
As more and more individuals have flocked to Thomas J. Henry for representation, the firm has continued to push GM for a victim settlement fund. The firm has had several talks with GM’s victim compensation expert Ken Feinberg regarding appropriate victim compensation for the thousands affected by a fatal design flaw in ignition switches which left numerous dead and countless others seriously injured.