GM Petitions U.S. Supreme Court Over Bankruptcy Shield
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General Motors Co. said late Tuesday it has asked the U.S. Supreme Court to reverse a 2nd U.S. Circuit Court of Appeals decision that has opened GM to potentially billions of dollars in lawsuits related to pre-bankruptcy claims over defective ignition switches, reports The Detroit News.
Reporter GM was protected from some liabilities prior to its bankruptcy restructuring, but that protection did not extend to post-restructuring after 2009.
“A number of injury, wrongful death and economic loss lawsuits have been filed against GM over its faulty ignition switches and recall of nearly 2.6 million older vehicles in 2014,” she writes. “GM has admitted it knew of the defect for years but did not recall the cars for more than a decade and has paid fines to the National Highway Traffic Safety Administration and the Department of Justice.”
Read the Detroit News article.
