The Carlson Law Firm Assisting Recall Victims Of Old GM's Negligence

GUC Trust Proposes Settlement for 2009 and Before Recall Victims

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May 22, 2018, 11:20 ET

KILLEEN, Texas, May 22, 2018 /PRNewswire/ -- Owners of recalled General Motors vehicles prior to the company's July 2009 bankruptcy can now rest assured that they will get relief from problems stemming from faulty ignition switches and defective power steering and airbags. The bankruptcy trust created by "Old GM", GUC Trust, proposed a settlement offer to a New York Bankruptcy Court that could total slightly more than $1 billion to a settlement fund for victims. If approved by the Court, postcard notices informing owners of affected vehicles about the settlement will be mailed in the coming weeks. Additionally, notices will go to anyone who has filed a lawsuit. While the filing deadline to be included in the settlement has yet to be announced, The Carlson Law Firm is investigating claims for individuals who were injured prior to July 10, 2009 in a defective GM vehicle.

The Carlson Law Firm is assisting individuals:

involved in a motor-vehicle incident in a recalled GM vehicle prior to July 10, 2009
who owned a vehicle with a GM Ignition-Switch Recall
in a car accident with no airbag deployment
who suffered injuries as a result of GM's defective product

The lawsuit stems from GM's 2014 recall of more than 2.4 million vehicles with faulty ignition switches and airbags. Documents show that the company was aware of the problem as early as 2001, well before the company declared bankruptcy.

If the proposed settlement is approved, GUC Trust would pay $15 million into a settlement fund. This settlement could also lead to New GM being prompted to fulfill its obligation to deliver 30 shares of common stock to the settlement fund—essentially adding $1.14 billion to pay economic loss, personal injury and wrongful death claims. The New York Bankruptcy Court is scheduled to have a hearing on the matter on May 25.

For remarks from the attorney representing injured GM victims, Carlson Law Firm Managing Partner, Craig Carlson, visit our website: https://www.carlsonattorneys.com/news-and-update/guc-trust-settlement/

Media Contact: Kazia Conway
[email protected]

SOURCE The Carlson Law Firm