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Compensation expert Kenneth Feinberg
says he's ready to "rip up" and redo out of court settlements General Motors
Co. made with victims of accidents involving cars with defective ignition switches as part of a broad settlement plan he unveiled Monday in Washington.
Under the program, Mr. Feinberg will provide compensation checks ranging from $20,000 to several million dollars to any driver, passenger, pedestrian or occupant of another vehicle who can show they were hurt in a crash involving one of 2.6 million cars GM has recalled after admitting they were equipped with faulty ignition switches.