Getting your player ready...
WASHINGTON — General Motors will assume responsibility for product-liability claims filed after the automaker emerges from bankruptcy protection, a concession that removes a potential obstacle to the Obama administration’s plan for the company’s quick restructuring.
Under the deal reached by the administration, GM and state attorneys general, the automaker will accept claims arising from defective-vehicle accidents that occur after it emerges from Chapter 11 proceedings. Consumers could file claims even if their vehicles were made by the “old” GM. But those with past claims would have to pursue the worthless GM left behind. Some who have won cases are likely to recover little or nothing.
