General Motors is clearly in the midst of a public relations nightmare over its faulty ignition switches which have led to an untold number of serious car accidents. But The Law Firm of Pajcic & Pajcic believes the company is finally doing the right thing in announcing there will be no limits when it comes to compensation for accident victims.
In other words, GM has placed no cap on the total amount that can be paid to people injured or to relatives of those killed in crashes involving the defective vehicles.
One of the nation’s top compensation experts, Kenneth Feinberg, has been given the authority to decide the amounts that will be distributed to the victims. So far 13 deaths have been linked to the ignition switches but there are estimates that hundreds more cases will be filed involving deaths and serious injuries.
The total GM could end up paying out may reach into the billions of dollars.
Feinberg announced at a news conference in Washington that “GM has basically said whatever it costs to pay any eligible claims under the protocol, they will pay it. There is no ceiling.”
Only those involved in crashes caused by the small car ignition switches are eligible.
Claims can be filed from August 1st to December 31st this year. Feinberg hopes to make the payouts in 90-180 days in most cases. Anyone who previously settled cases with GM is eligible to apply for more compensation.
General Motors appeared to hide vital information and delay recalls for years sparking investigations by Congress and the Justice Department. We are hopeful this behavior by the car company will send a message to other manufacturers throughout the country that as soon as a problem or defect is discovered, the public must be informed.
While GM was trying to avoid costly recalls, it is quite clear the recalls would have saved the company far more than it is about to spend now. What is even more disturbing is the thought that If GM had acted in a timely matter, there is no doubt many lives could have been saved and many people would not have suffered catastrophic injuries.
General Motors is clearly in the midst of a public relations nightmare over its faulty ignition switches which have led to an untold number of serious car accidents. But The Law Firm of Pajcic & Pajcic believes the company is finally doing the right thing in announcing there will be no limits when it comes to compensation for accident victims.
In other words, GM has placed no cap on the total amount that can be paid to people injured or to relatives of those killed in crashes involving the defective vehicles.
One of the nation’s top compensation experts, Kenneth Feinberg, has been given the authority to decide the amounts that will be distributed to the victims. So far 13 deaths have been linked to the ignition switches but there are estimates that hundreds more cases will be filed involving deaths and serious injuries.
The total GM could end up paying out may reach into the billions of dollars.
Feinberg announced at a news conference in Washington that “GM has basically said whatever it costs to pay any eligible claims under the protocol, they will pay it. There is no ceiling.”
Only those involved in crashes caused by the small car ignition switches are eligible.
Claims can be filed from August 1st to December 31st this year. Feinberg hopes to make the payouts in 90-180 days in most cases. Anyone who previously settled cases with GM is eligible to apply for more compensation.
General Motors appeared to hide vital information and delay recalls for years sparking investigations by Congress and the Justice Department. We are hopeful this behavior by the car company will send a message to other manufacturers throughout the country that as soon as a problem or defect is discovered, the public must be informed.
While GM was trying to avoid costly recalls, it is quite clear the recalls would have saved the company far more than it is about to spend now. What is even more disturbing is the thought that If GM had acted in a timely matter, there is no doubt many lives could have been saved and many people would not have suffered catastrophic injuries.