Compensation expert Kenneth Feinberg said Friday he expects a
flood of claims against General Motors after the Thanksgiving
holiday but so far the $600 million set aside for victims in its
ignition switch program appears adequate.
"Based on the way this is going, it would appear that what
they've reserved is adequate," Mr. Feinberg said on Bloomberg
TV.
General Motors Co. (GM) recall claimants have until Dec. 31 to
file claims against the auto maker.
"We shall see. There may be a spike in legitimate claims,
eligible claims at the end of December. We'll have to process those
claims into early 2015. But so far I would say the program is
working, has been effective in getting claims processed."
"The program is working as GM intended it to work and I think it
will prove to be successful," he said.
Full story at www.bloomberg.com
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