Chinese Drywall Remediation

On Thursday – December 15th – the Chinese Drywall Plaintiff”s Steering Committee announced the much-anticipated settlement with drywall supplier Knauf – and the announcement is better than many of us who follow the committee even expected.  This class action settlement is being estimated to be around $800 million dollars, and is very good news for homeowners with Chinese Drywall manufactured by Knauf.  The details of the payout are not 100% clear at this point, but the estimate looks like thousands of homeowners who have been impacted by Knauf Chinese Drywall (Knauf Plasterboard Tanjin) will finally find relief through this class action settlement.  The way it currently reads, the settlement is created with an uncapped fund to allow all homeowners with Knauf plasterboard to receive resolution.  There will also be two separate capped funds pertaining to the settlement.  The attorney fees fund will be capped, and there will be a capped fund for any claims pertaining to claims of personal injury damages, or other economic losses.

If you do have Knauf, and are part of the class action lawsuit, you will have three choices on how to handle your payout:

  1. You can use the selected contractor from the Pilot Program – Moss Construction.
  2. You can select your own Chinese Drywall contractor and be reimbursed through draws.  If you live in the Tampa Bay area, and have questions regarding the remediation of your home, we would be happy to meet with you to discuss the process.  As an experienced Tampa Chinese Drywall Contractor, we would be happy to share our experience and knowledge of chinese drywall remediation.
  3. You can choose to take a discounted all cash payout settlement.

Unfortunately, those homeowner’s who have Chinese drywall made by another manufacturer will not be helped by this settlement.  Knauf is the most prominent of the Chinese drywall manufacturers, but there are at least nine (9) other Chinese drywall manufacturers which are not part of this lawsuit.  Here in Tampa, in addition to Knauf, it is also common to find homes with non-Knauf Chinese drywall.

With the payouts looming, many homeowners will now start to decide how to best proceed with their remediation projects.  The following links may be of value in that process:

 

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 Contractor and 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, Custom Home Building, Additions, Kitchen Remodeling, Bath Remodeling, Renovation, and Remodeling 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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