The 2nd U.S. Circuit Court of Appeals in Manhattan has decided to give General Motors a pass on the punitive damages associated with its faulty ignition switches. If you don’t recall the issue, it’s hardly your fault. The cars were manufactured prior to GM’s 2009 bankruptcy declaration and encompassed models from brands that no longer exist.

That timing was everything, too. Apparently the affected Saturn, Pontiac, and Chevrolet vehicles are part of the “Old GM” that died during the Great Recession. Most of the automaker’s former assets and liabilities were transferred to the “Motors Liquidation Company,” so that the General could be reborn fresh and untainted, like a baby phoenix.  (Read More…)