Kenneth Feinberg, administrator of a fund to compensate some
claimants involving faulty ignition switches on some General Motors
Corp.'s (GM) autos, on Thursday said 115 claims have been filed in
the program's first week.
Mr. Feinberg, in an appearance on CNBC, said about half of those
claims filed are "death claims" with the rest physical injury
claims. He said those claims are now under review, with the less
complicated claims expected to be paid out within 90 days.
Most of the claims filed involve Chevrolet Cobalt or Saturn Ion
vehicles, he said. GM reaffirmed that no cap will be placed on the
amount of money to be paid out in the program, and that "I will
have absolute final discretion," on eligibility and total dollars
to be paid, Mr. Feinberg said. The company, he said, has been
"cooperative, supportive" of his efforts.
"I think GM has absolutely been public spirited in setting up
this program," he said.
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