The bill would remove time limits for a specific lawsuit filed in 2015 over the General Motors bailout. It would require the United States to pay eligible claimants compensation. If no settlement is submitted to the court within 60 days after the bill becomes law, the Attorney General would have to explain the delay to Congress.
The bill covers only people represented in the specified lawsuit who filed a claim in the General Motors bankruptcy case for death or personal injury tied to alleged defects in certain vehicles made, sold, or delivered by General Motors or its subsidiaries on or before June 1, 2009. Other people are not identified as eligible by the bill.
Compensation would equal 2.5 times the allowed amount on the claimant’s final bankruptcy claim record, plus interest at 3.5% per year, compounded quarterly, from July 10, 2009, until settlement. It would also include reasonable court-approved fees and costs for the claimants’ lawyers. The bill provides for payment under a federal statute, but does not state a total cost.
No publicly available information.
No publicly available information.