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VW Readies Payment Program for VW Diesel Owners
Volkswagen AG has hired victim compensation expert Kenneth Feinberg to set up and run a claims program for as many as 500,000 U.S. customers who own Volkswagen Group cars equipped with diesel engines that violate emission laws.
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Volkswagen AG has hired victim compensation expert Kenneth Feinberg to set up and run a claims program for as many as 500,000 U.S. customers who own Volkswagen Group cars equipped with diesel engines that violate emission laws.
Feinberg created and administered similar compensation programs for victims of the 9/11 terrorist attacks and General Motors Co.’s defective ignition switches. The aim of the special funds is to encourage victims to settle out of court.
The VW program will cover customers who own VW-brand vehicles powered by 4-cylinder diesels and owners of Audi, Porsche and VW models equipped with V-6 diesels. Feinberg estimates the number of payouts could reach 500,000. But he says the payment range and size of the overall fund haven’t been determined.
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