Bankruptcy Ruling for GM
A bankruptcy ruling Wednesday from 2009 caused GM to be protected from over 100 claims.
People who own cars built before the ruling but were injured after the ruling are still eligible to make claims. Claims are over faulty ignition switches.
Legal representatives for people with the faulty ignition switches feel GM should have promptly recalled the cars.
The faulty ignition switches can cause the car to shut down, or turn off vital functions of the car.
GM has known about the issue for 10 years but only recalled the vehicles last year.
There have been 84 deaths and 157 injuries associated with the defect. GM amassed $100 billion in losses before the bankruptcy.
A new company was created by the bankruptcy.
The U.S. government bailed out the company.
GM has created a special fund for victims of accidents. Payments range from the thousands to the millions.
Judge Gerber, who ruled over the case, and Steve Berman, attorney for the plaintiff, feel that GM tried to conceal information about the defect.
There is the possibility of an appeal.
As a result of this ruling GM will avoid thousands of dollars in litigation costs.
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Source: LA Times
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