Unless it lands in court for a decision, it goes by the investigating officer's determination, and the financial responsibility may be determined by the insurance adjusters. If the investigator(s) determine that the speed was a factor in the wreck, then you most certainly can be held accountable.
I plastered my 70 SS396 Chevelle all over the side of a Chevy pickup back in 1983.... Investigator determined I was going at least 38mph in a 25 zone when the idiot pulled out of a parking spot into my path.
I was an 18 year old kid with a fast car... I got screwed.
