Drywall Supplier, Insurers Reach $8M MDL Settlement

Law360, New York (April 26, 2011, 5:15 PM EDT) -- A building supply company and its insurers reached an $8 million settlement Tuesday with plaintiffs in a multidistrict litigation in Louisiana over defective Chinese drywall.

In a joint motion, Interior/Exterior Building Supply LP, Arch Insurance Co., Liberty Mutual Fire Insurance Co. and the plaintiffs' counsel asked Judge Eldon E. Fallon for preliminary approval of the settlement, which represents all of the remaining primary insurance available to InEx.

The sprawling MDL over defective Chinese drywall involves several thousand homeowners nationwide, and InEx found itself mired in the...
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