General Motors’ program to give relief to victims of its defective ignition switch is open to taking claims as of Friday. Kenneth Feinberg, a lawyer experienced in high-profile corporate compensation cases, announced the facility will be accepting submissions through to December 31 and distribute settlements to cases of death and physical injury stemming from the defect. Though General Motors has reserved $400 million for compensation, no cap has been placed on the fund and the company said the final awards total could exceed $600 million. Feinberg will have authority to determine how much money to award claimants. TheStreet's Keris Lahiff reports from New York.

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