(August 2, 2011)
Insurers for a Chinese drywall company will pay $8 million to cover court settlements resulting in defective drywall. Not only is this drywall corrosive, but it has been causing many people health issues, as well.
Interior/Exterior Building Supply received drywall from two Chinese companies (Knauf Plasterboard Tianjin Co. – or KPT – and Taishan Gypsum Co.), and in turn distributed to an estimate of 60,000 to 100,000 homes throughout the country between 2004 and 2008..
KPT had agreed to fix up roughly 300 homes in Louisiana, Alabama, Mississippi, and Florida October, and reportedly started this project in March. All Chinese drywall cases were consolidated to Judge Eldon E. Fallon of the U.S. District Court in June 2009.
State officials in Louisiana say that this Chinese drywall has 10 times the allotted Sulfur levels provided by the United States government. This drywall is constructed with waste products from Chinese coal-fired power plants, producing sulfur dioxide when mixed with the moisture from the surrounding air. This sulfur dioxide can have harmful effects if ingested for long periods of time, such as runny and bloody noses, chronic coughing, wheezing, bronchitis, and respiratory illnesses. This drywall has been associated with an unpleasant and potentially harmful odor and fumes that corrode metals.
The Associated Press is reporting that between 1,200 to 1,500 property owners can receive a portion of the $8 million settlement.
If your home contains this corrosive and dangerous Chinese drywall, you may be entitled to a settlement fund. contact one of our attorneys at 1-800-246-4878 to see if we can be of more assistance to you and your family.