Chinese Drywall Co. Knauf Settles Portion Of MDL

Law360, New York (November 17, 2011, 3:26 PM EST) -- Knauf Plasterboard Tianjin Co. Ltd., a major Chinese drywall manufacturer, will pay to repair homes with defective drywall as part of a settlement that could impact nearly 1,500 properties, a lawyer for homeowners in a multidistrict litigation in Louisiana said Wednesday.

The Chinese drywall plaintiffs' steering committee sought approval for the deal, which will settle a portion of claims against Knauf, at a hearing in New Orleans federal court, said plaintiffs' attorney Bruce Steckler of Baron & Budd PC.

“It is a great stepping stone or...
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