DETROIT, Oct. 29, 2014 /PRNewswire/ -- Pegasus Legal Funding, LLC, reported today that according to an article in The Detroit Bureau, General Motors Co. compensation fund has now approved 24 death claims for people killed as a result of defective ignition switches in since-recalled cars, in additional to 27 approved injury claims. The automaker established a victims' fund which is being administered by Kenneth Feinberg.. The fund was set up to compensate victims and their families for deaths and serious injuries related to the faulty ignition switch recall. It utilizes a matrix involving different categorizes or classes of injuries. It determined injuries as either "Category One," which includes physical injuries resulting in quadriplegia, paraplegia, double amputation, permanent brain damage or pervasive burns or "Category Two," which are injuries requiring hospitalization or outpatient medical treatment within 48 hours of the accident. According to The Detroit Bureau, claims are being accepted until Dec. 31st. It is reported that the automaker has set aside as much as $600 million into the victims' fund to pay on approved claims. However, executives at the automaker have said there would be no limit on the payouts as Feinberg's team will have the final say on whether a payout is approved or not.
Bradley Braun of Pegasus Legal Funding commented on the growing number of approved death and injury claims in the news, as well as the class-action suits filed against GM. "It's encouraging to see a fund put in place by GM and, the fact that two class-action suits have also been filed at such a staggering figure, underscores the damage that has been done. It is our belief that more claims will be submitted and approved, and possibly more lawsuits filed before the close of 2014."
Individuals and their families who were injured as a result of an automobile defect are placed under emotional and financial strain. Pegasus encourages those who have been affected by a GM automobile defect associated with the recent ignition switch recall to seek legal counsel to determine if they have a claim against the company.
If you, or a family member have been injured or have died as a result of complications associated with the GM ignition switch recall, and need lawsuit settlement funding you may apply right now to http://www.mylawfunds.com. As a direct funding company, Pegasus Legal Funding is in a unique position to provide assistance to you or your loved one's who may be involved in a lawsuit related to a GM automobile defect. Pegasus Funding does not offer a "lawsuit loan," lawsuit loans, pre-settlement loans, or a pre-settlement loan; however, we offer non-recourse lawsuit cash advances. To learn more about this please visit our website. If you prefer to speak to a live representative confidentially and professionally about your specific case and funding needs you may call Pegasus' toll free hotline at 855-FUND-YOU/855-386-3968.
Photo - http://photos.prnewswire.com/prnh/20140123/NY51061LOGO
SOURCE Pegasus Legal Funding, LLC
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