U.S. car giant has announced it will pay out billions to victims of crashes caused by defective ignition switches, said the fund administrator Kenneth Feinberg.

Thirteen deaths, 54 crashed and over 3 million GM vehicle recall are linked to a faulty ignition switch in Saturn Ion and Chevrolet Cobalt vehicles.

According to Feinberg, GM places no limit on the total amount, which should be paid to families of those killed and injured people. However, a basic condition is that the claimants should prove that air bags didn`t deploy in the crash.

“If an air bag deployed, you’re out,” Mr. Feinberg said.

The ultimate cost for GM is not estimated, as there is still unclear how many death or injury claims will be got. Taking into consideration the methodology Feinberg is going to employ, a sum will be running into hundreds of millions or even billions of dollars.

Relatives of victims killed in the crash can still sue an automaker in spite of any out-of-court death settlements. If the automaker will be entitled to pay a new amount, the money already paid out as a compensation will be deducted from the total.

Claims on the fund are expected to start on August 1 and last till December 1, Feinberg stated. The compensation will be paid in 90-180 days once the filling is completed. Those who settled lawsuits with Detroit automaker before are eligible to apply for more reimbursement.

At least $1 million will be paid for each killed in a crash, along with $300,000 payments to surviving spouses and children for suffering and pain.

Feinberg stated that the company won`t take into consideration whether such factors as speeding, drinking alcohol, not wearing seat belts contributed to crash. However, these arguments can be used as a defense if the cases go to court.

Follow the link to know more about the issue http://www.gmignitioncompensation.com/

In case you need legal help, you can contact attorney Hovanes Margarian at 818-491-3603.