Chinese Drywall Class Action Lawsuit Settlement

Knauf Plasterboard Tianjin (KPT) Chinese Drywall Class Action Settlement Reached.

A global Chinese drywall class action settlement has been reached in a class action lawsuit pending in the United States District Court for the Eastern District of Louisiana (styled In re: Chinese-Manufactured Drywall Products Liability Litigation, MDL 2047) brought on behalf of homeowners, commercial owners and tenants, as well as multi-unit properties and prior owners of foreclosed properties (or those who have engaged in short sale) who may have been affected by alleged problems with Knauf Plasterboard Tianjin (KPT) chinese drywall, according to a KPT chinese drywall class action settlement news report.

The KPT chinese drywall class action lawsuit settlement reportedly includes all plaintiffs in the drywall litigations in both federal and state court whose homes or businesses have KPT drywall.   The KPT chinese drywall class action settlement reportedly creates two funds from which plaintiffs may recover: the Remediation Fund and the Other Loss Fund. The Remediation Fund is an uncapped fund that will pay costs of the three types of relief the class members can choose from: (i) remediation by Moss & Associates (ii) self-remediation by a qualified contractor of the homeowner’s choosing; and (iii) a cash out option, in which the homeowner can elect to receive a cash payment. The Other Loss Fund is a capped fund which will reimburse for certain provable economic loss and provide a review process for individuals who believe they have personal injury claims.

If You Have Thoughts On The KPT Chinese Drywall Class Action Lawsuit Settlement, Share Your Settlement Comments Below.