Feinberg: No Offers From GM Comp Fund Have Been Rejected So Far
The deadline for filing a claim with General Motors victim compensation fund now passed, Kenneth Feinberg says no offer has been rejected thus far.
Bloomberg reports 125 offers have been made between August 1 of last year through last Friday, split between 75 injury and 50 fatality claims linked to the February 2014 GM ignition switch recall. According to Feinberg, who is the administrator for the fund, “every single eligible claimant awarded compensation has elected voluntarily to take it… no eligible claimant has rejected the compensation and voluntarily decided to litigate.”
However, he adds that even with his help in mitigating potential lawsuits, the automaker will still have to fend off quite a few; around 150 cases involving owners of over 27 million affected vehicles have been filed in court as of this writing. On the other hand, Feinberg explains that if his office couldn’t find a claim eligible for an offer, “no litigation will do otherwise. Our program is much more generous to claimants than a court would be.”
As of Thursday, over 3,350 claims were filed; the final total is expected to be released later today.
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