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Posts Tagged ‘victims compensation fund’

VW to Give U.S. Diesels Owners Generous Compensation

But program is on hold until EPA officials approve vehicle repair plans.

by on Feb.08, 2016

VW compensation fund czar Kenneth Feinberg says that for the moment his "hands are tied."

The check is in the mail. Well, not quite. But Kenneth Feinberg, the specialist whom Volkswagen has hired to put together a compensation package for U.S. owners of about 600,000 diesel-powered vehicles, says he expects to be eventually making some very generous payments.

But the timing is up in the air, Feinberg tells the German newspaper the Frankfurter Allgemeine, until VW can first come to an agreement to move forward with repairs for those vehicles – which were equipped with so-called “defeat devices” meant to cheat on diesel emissions tests.

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“My hands are tied as long as VW and the authorities have not overcome their differences,” Feinberg says.

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VW Hires Victim Compensation Expert Ken Feinberg

Move comes amidst corporate management shake-up.

by on Dec.17, 2015

Kenneth Feinberg previously oversaw GM's ignition switch victims compensation fund.

(This story has been updated to reflect new details provided during a Feinberg news conference.)

Volkswagen is setting up an independent claims fund to address its diesel emissions scandal, and it has tapped attorney Kenneth Feinberg to handle the program.

Feinberg recently wrapped up work for General Motors where he oversaw a similar fund for claims on behalf of victims impacted by a General Motors ignition switch defect. Feinberg also oversaw compensation funds following the 9/11 attack on the World Trade Center and the BP oil spill in the Gulf of Mexico.

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“His extensive experience in handling such complex matters will help to guide us as we move forward to make things right with our customers,” said Michael Horn, President and CEO, Volkswagen Group of America.

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Deaths Due to GM’s Faulty Ignitions Hits 100

Still 37 more death benefit claims to review.

by on May.11, 2015

GM said it has repaired more than 70% of the vehicles with its faulty ignition switch.

The number of deaths attributable to the faulty ignition switches in the 2.6 million vehicles recalled by General Motors has hit 100.

According to the latest update from Kenneth Feinberg, the administrator the $550 million victims fund established by the automaker, the number of death claims rose this week by three. There are 37 applications still to be considered after 227 have been denied. The automaker said it has repaired between 70 and 75% of the vehicles.

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In addition to the claims for death benefits, Feinberg’s staff approved 12 claims for people who suffered lost limbs, brain damage or pervasive burns in crashes, which are described as Category One. The claims for another 172 people who suffered less severe injuries that required hospitalization or outpatient treatment have also been approved, also known as Category Two injuries. (more…)

GM Ignition Switch Death Toll Rises to 97 Victims

Feinberg team continues processes claims.

by on May.04, 2015

Kenneth Feinberg, administrator fo GM's victims compensation fund, approved another round of benefits for victims.

General Motors initially claimed that 13 people were killed as a result of the faulty ignition switches that forced the recall of nearly 2.6 million vehicles last year: that number is now at least 97 people.

Kenneth Feinberg, the administrator of the $600 million victims compensation fund established by GM, released the latest results of his team’s efforts to process claims filed by victims and their families.

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The number of deaths has been slowly rising since the automaker established the fund and Feinberg and his team began sifting through the claims. In total, 474 claims were submitted for death benefits, and 97 were deemed eligible, 212 ineligible and 105 were “deficient,” which means it didn’t have enough documentation to be processed. (more…)

Six New Recalls at GM – All-Time Record for US Industry

Latest problems involve 7.6 mil vehicles sold in the States, most for ignition key issues.

by on Jun.30, 2014

The 2014 Cadillac CTS is just one of 7.6 million vehicles named in a recall by General Motors today.

Hours after the details of a new victims’ compensation program was announced for those killed or injured as a result of an ignition switch defect, General Motors has revealed it will stage another six separate recalls covering 7.6 million vehicles sold in the U.S.

That move not only brings to nearly 26 million the number of GM vehicles recalled since just the beginning of the year, but also brings to nearly 39 million the overall tally of vehicles recalled by all automakers operating in the U.S. this year, exceeding the previous annual record by almost 15% – and in just six months.

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The vast majority – nearly 7.4 million of the vehicles covered by the latest GM recall blitz involve what the automaker describes as “unintended ignition key rotation,” a problem in which a driver can inadvertently nudge the key or key ring and turn the car off. If that happens, it will likely lose its power brake and steering assist while the airbags would be disabled. GM says it knows of seven crashes, eight injuries and three fatalities related to the latest recalls, all in vehicles with the ignition key problem. (more…)

100s, Perhaps 1,000s, Likely Eligible for GM Victims’ Compensation Plan

Administrator will have free hand in deciding who gets payout.

by on Jun.30, 2014

GM compensation fund czar Kenneth Feinberg.

When General Motors formally unveils the victims’ compensation fund later today, it’s expected to give a free hand to the administrator who will have to decide on how to pay out to those involved in crashes linked to the maker’s faulty ignition switches.

According to several sources, as well as published reports, administrator Kenneth Feinberg could eventually wind up paying out more than $1 billion, not only to the families of those killed in crashes caused by the ignition switch defect, but also to those injured, whether passengers or pedestrians, as well as those in vehicles struck by the now-recalled GM vehicles.

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“He will have complete independence” from GM to decide who will receive compensation, and for how much, the automaker’s CEO Mary Barra said during a U.S. House subcommittee hearing earlier this month. Barra added that the compensation program will cover “everyone who lost a loved one due to this issue, or who suffered serious physical injury.”

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