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CDCC Endorses National Construction Warranty
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Chinese Drywall News
- Warranty Plan Discontinued
- Settlement reached in Gulf Chinese drywall cases
- Virginia Chinese Drywall Law
- BANNER SETTLES - $55 MILLION
- Chinese Drywall Complaint Center Blasts Banks for Dumping Toxic Chinese Drywall Foreclosures in Florida
- Settlement reached with New Orleans distributor of Knauf-brand Chinese drywall
- U.S. made drywall report is full of gaps
- Chinese drywall cases move forward as Knauf begins remediation of 300 U.S. homes
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Newsflash
| It’s unlikely that repaired houses will quickly catch up with the value of unaffected houses nearby, said Kilpatrick. In a neighborhood with appreciation rates of 5% a year, he said, a house that suffered a 30% or 40% loss of value from stigma would have to appreciate at 10% a year in order to catch up over a 10-year period — and that’s without considering any lingering claims about health effects. So for owners of affected houses, it’s likely that remediation will not fully solve their problem — and that even after the house is “fixed,” the house won’t really be fixed. |
| Settlement reached in Gulf Chinese drywall cases |
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| A settlement agreement (which will provide additional details) will be filed in the Court on December 20th. On January 4, 2012, the Court will hold a hearing for preliminary approval. A fairness hearing will be held in June or July 2012. The Plaintiffs Steering Committee (“PSC”) has reached a global settlement with Knauf which is valued at 800 million to 1 billion dollars. Simply stated, the proposed settlement (as it has not yet been approved by the Court) will provide for the following options:
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