During the monthly status conference today for the Judge Fallon Chinese drywall litigation we learned about some interesting developments. First, and most significant, is that a preliminary settlement has been reached with the Florida-based drywall supplier Banner Supply Company. The settlement is for $55 million and could help to resolve the Chinese drywall problems of hundreds of Florida homeowners. This could also mean some relief is coming for Tampa Chinese drywall homeowners and their homes.
We also learned that in addition to the litigation against Knauf, they also continue their class action against multiple other Chinese corporations that were manufacturing Chinese drywall. The process is slow going because of the challenges in determining which Chinese companies were involved, and then dealing with the Chinese government to bring suit against those corporations.
Finally, it was noted today that JP Morgan and Morgan Stanley could both have ties to bringing Chinese drywall into the country, Florida, and the Tampa area. It was mentioned that JP Morgan and/or Morgan Stanley may actually own a sizable share of the Chinese drywall company CNBM. We are not sure how this development will progress, but it seems very possible that the plaintiffs would like to get testimony from representatives of JP Morgan and Morgan Stanley at some point in the future.
For additional information on Chinese drywall, please visit the following Chinese drywall resources:
Tampa Chinese Drywall Video Series – The video series walks step-by-step through an entire Chinese drywall remediation project. It also covers other issues homeowners should consider before beginning a remediation project.
Tampa Chinese Drywall Blog – The blog focusses on those issues directly relevant to any homeowner with Chinese drywall.
Tampa Chinese Drywall Twitter Feed – This twitter feed also focuses on those issue directly relevant to homeowners with Chinese drywall. The blog contains more in-depth information while the twitter feed contains the more timely issues relating to Chinese drywall.
Charter Bay Home Builders is a full-service Tampa Chinese Drywall Remediator, Remodeler, and Custom Home Builder working throughout the greater Tampa Bay area including Hillsborough, Pinellas, Pasco, Hernando, Manatee, and Sarasota. Charter Bay can help with your Chinese Drywall Problems and Remediation, Additions, Kitchen Remodeling, Bath Remodeling, Renovation, Remodeling, Home Design, Cabinets, Design Build, and Custom Home Building needs.
In addition, as one of the few Tampa custom home builders, or remodelers, with multiple green building and green remodeling certifications (FGBC Certifying Agent and NAHB Certified Green Building Professional), Charter Bay can also assist those clients who want green features and sustainable building practices incorporated into their projects.
Visit our website – www.CharterBayHomes.com – today to learn how “The Charter Bay Way” delivers:
“Yesterday’s Values • Today’s Technology • Tomorrow’s Vision”
(813) 357-9030
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