Chinese Drywall Developer Makes $5M Deal With Homeowners

Law360, New York (May 15, 2012, 2:12 PM EDT) -- A Florida real estate developer on Monday agreed to pay $4.8 million to a class of condominium owners who claim that Chinese-manufactured drywall used in the construction of the homes caused health problems and property damage.

RCR Holdings II LLC will set up a fund for 182 named plaintiffs and 67 other homeowners in its Villa Largo complex in Boynton Beach, Fla., as part of the proposed settlement. If approved by U.S. District Judge Eldon E. Fallon, the deal will settle all of the claims against...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In Re: Chinese-Manufactured Drywall Products Liability Litigation


Case Number

2:09-md-02047

Court

Louisiana Eastern

Nature of Suit

Personal Inj. Prod. Liability

Judge

Eldon E. Fallon

Date Filed

June 15, 2009

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.