There is a proposed settlement in the Chinese drywall MDL that may resolve thousands of lawsuits that have been filed over defective drywall.
The deal announced Thursday has Knauf Plasterboard Tianjin Co. – a German Company – agreeing to pay approximately $1 billion to create an uncapped fund to pay for repairing some 4,500 properties, mostly in southern states like Florida, Louisiana, Mississippi and Alabama. This settlement also includes a $30 million will fund to pay people who claim heath related consequence from the defective drywall.
Our law firm handles only personal injury case. We did not get involved because the claims were largely – although not exclusively – property damage claims. The billion dollar number – which, keep in mind, is the estimate from the MDL plaintiffs’ lawyers – is an incredibly big number.