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It was found that the ignition switches subject to the recall did not meet two of GM's specific requirements — torque required and vibration environment — for the ignition switch. The torque, or rotational power that prevents the ignition switch from changing modes, was required by GM's own standards to be between 10 N·cm and 20 N·cm ...
General Motors Co on Thursday won preliminary U.S. court approval of a $120 million settlement with owners who said defective ignition switches caused their vehicles to lose value. U.S. District ...
This class-action lawsuit sought damages for loss of value to owners' vehicles because of the faulty switch. GM, After Six-Year Battle, Settles Another Ignition-Switch Lawsuit for $120 Million ...
General Motors Coagreed to a $5.75 million settlement to resolve allegations itmade false statements to California's largest pension system andother investors over its deadly ignition switch recalls.
On June 1, 2009, the court gave interim approval to GM's request to borrow $15 billion as debtor-in-possession financing, the company only having $2 billion cash in hand. The United States Treasury had argued in court that it was the only source of such debtor in possession funding, and that without the money from the loan General Motors would ...
On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus $24.1 million USD as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a ...
LM Otero/APA customer talks about getting her 2010 Chevy Cobalt repaired after GM recalled 2.6 million vehicles to repair faulty ignition switches. By Jessica Dye NEW YORK -- General Motors (GM ...
High energy ignition, also known as H.E.I., is an electronic ignition system designed by the Delco-Remy Division of General Motors.It was used on all GM vehicles, at least in the North American market, from 1975 through the mid-1980s.