Feinberg to oversee Volkswagen diesel claims
High-profile attorney handled similar cases for GM, BP, 9/11 victims
Volkswagen Group said Thursday it is hiring Kenneth Feinberg, one of the nation’s best known victim compensation attorneys, to handle claims resolution resulting from its diesel emissions scandal.
Feinberg will be in charge of the independent claims resolution program for owners of Volkswagen, Audi and Porsche vehicles with either 2-liter or 3-liter diesel engines. Feinberg will be in charge of both designing and administering the program. Volkswagen has admitted to rigging diesel engines in its cars to beat emissions testing.
Feinberg said he doesn’t know how long the Volkswagen program will last or what settlement options it will include. “We have to wait and see what the legal remedies will be,” he said.
About 500,000 claims are expected. “We are concerned that we come up with a menu of solutions that, in combination, will satisfy individual owners,” Feinberg said, adding it is premature to talk about those options, including whether VW will buy back cars.
Most recently, Feinberg served as the independent administrator in charge of General Motors’ claims surrounding faulty ignition switches. He determined that 124 deaths and 275 injury claims were valid from among 4,343 claims filed.
He rose to fame through his handling of the compensation programs from the BP oil spill disaster in the Gulf of Mexico and for victims of the 9/11 terrorist attacks in New York in 2001.
“His extensive experience in handling such complex matters will help to guide us as we move forward to make things right with our customers,” Michael Horn, CEO of Volkswagen Group of America, said in a statement.