General Motors reportedly won’t have to pay out more than the US$400m to US$600m it budgeted for a compensation fund.
Noting the deadline, already extended a month once, was on 31 January, The Wall Street Journal said it would take the fund, admininstered by prominent lawyer Kenneth Feinberg, weeks to rule on and pay out for a flood of last minute claims for compensation for death or injury in car crashes related to faulty ignition switches.
Go deeper with GlobalData
By 1 February, the fund had received 4,180 claims and paid out for 51 deaths, eight very serious injury cases and 69 more moderate injury claims.
Still under review were 1,103 cases of death and/or injury, the compensation fund said in its latest report.
