Business

June 30, 2014

GM puts forth plan for restitution

General Motors’ outside compensation guru announced a long-awaited plan for providing financial restitution to those harmed by crashes stemming from faulty ignition switches in Chevy Cobalts and five other models, setting no ceiling on how much money will be awarded.The firm’s 2009 bankruptcy “will not be a bar” to the filing of claims for accidents that occurred before it sought Chapter 11 protection, Kenneth Feinberg told a news conference at the National Press Club.

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