WASHINGTON — A Chinese drywall manufacturer has agreed to participate in the remediation of up to 300 homes in Alabama, Mississippi, Louisiana and Florida that were contaminated by faulty drywall, according to the Insurance Journal.
An agreement was reached with Knauf Plasterboard Tianjin (KPT) in Chinese drywall multi-district litigation that establishes a demonstration remediation program, funded by KPT and a number of builders, drywall suppliers and their insurers, the article stated.
Hundreds of lawsuits have been filed against homebuilders, developers, installers, realtors, brokers, suppliers, importers, exporters, distributors and manufacturers over drywall from China, which was widely imported into the United States between 2004 and 2006, the article noted.
"The purpose of the demonstration remediation project is to establish a model for the resolution of the KPT drywall issue," stated Gregory J. Wallance of Kaye Scholer LLP, who represented KPT with Kerry J. Miller of Frilot LLC.
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