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News
December 11, 2015

In the News Today – December 11, 2015

GM Waives Bankruptcy Shield, Offers $559 Million to Brake Switch Victims: Over the past 16 months, General Motors has offered a total of about $595 million to alleged victims through its compensation fund managed by Kenneth Feinberg. A reported 90% of the alleged victims have accepted the terms. Despite the fact that a judge had allowed GM to “maintain a bankruptcy shield” that would prevent plaintiffs who had death or injury claims from before the company’s July 2009 restructuring from suing the company — GM waived the shield strictly to pay victims of its defective switch problems. (Wall Street Journal)

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