U.S. District Judge Fallon has announced a Chinese drywall settlement agreement with the German manufacturer Knauf Plasterboard Tianjin Co., which means that thousands of Gulf Coast homeowners will be able to have their homes repaired.
A settlement between the drywall manufacturer Knauf Group and homebuilders who used defective Chinese drywall will result in hundreds of homes being repaired in Gulf states.
Two of Interior/Exterior Building Supply’s insurers, Arch Insurance Co. and Liberty Mutual Fire Insurance Co., will allow up to $8 million of their insurance policies to compensate homeowners with defective Chinese drywall.
Louisiana Chinese drywall homes next to begin Knauf pilot remidiation program.
U.S. District Court Judge Eldon Fallon has dismissed Louisiana homeowners’ claims against 10 insurance companies involved in the defective Chinese drywall case.
US District Judge Fallon says pilot program to fix 300 homes in Florida, Louisiana, Alabama, and Mississippi built with defective Chinese drywall. The manufacturer of the drywall Knauf Plasterboard Tianjin Co., has already inspected and chosen 80 homes to be repaired.
Chinese drywall manufacturer Knauf Plasterboard Tianjin settlement: Knauf will repair up to 300 homes in the states of Florida, Alabama, Louisiana, and Mississippi.
An estimated 170 homes, built by Habitat for Humanity in New Orleans for Hurricane Katrina victims, contain defective Chinese drywall. These homes will be gutted and rebuilt for each resident.
A bill that would prevent insurance companies from failing to renew or canceling clients who file Chinese drywall-related claims has progressed to the full House.
Class-action status is significant legally, in that plaintiffs (those who suffered harm) can benefit by being considered a “class” or a group rather than having to file a lawsuit for each home affected. This “class-action” status obviously alleviates administrative burdens on the court system as well.
