Chinese drywall manufacturer to reimburse homeowners
NEW ORLEANS — Attorneys for Knauf, a major manufacturer of problem drywall from China, have told U.S. District Court Judge Eldon Fallon the company will reimburse home builders for the cost of remediating homes, according to The Times-Picayune.
Thousands of people are still stuck with homes unfit for habitation or sale, and Wednesday''s deal will fix at least 800 homes around the country and extricate some builders from the litigation, the article stated.
"It allows the home builders who have been repairing homes to be reimbursed. It gets the homes out of litigation," said Kerry Miller, an attorney for Knauf.
According to the article, the program will reimburse large national builders who went ahead and repaired on their own, and will help medium-sized builders with the wherewithal to fix homes if they had the money to actually do so.
The deal only applies to properties with Knauf-brand drywall, the article noted.
Click here to read the complete article.