Hi,
This sounds like a classic workers comp case. I cant see what state you are in! Freoo13, you're not in Fremantle WA are you? Check this page out and select the relevant state down the bottom
Workers' compensation
Finger amputation is a reportable incident to the relevant OHS regulator. So if your employer failed to inform the regulator they could be in a fair bit of trouble. Workers comp should cover you, but keep in mind that if you knew the machine was faulty and still used it you could be found to carry a portion of the culpability.
Please give us a bit more information, your location, size of the company you work for (number of employees) and any other relevant info.