To Get Help Now
Click Here
 
Today's Date:

Virginian Homeowners Reach $13 million Chinese Drywall Settlement

AddThis Social Bookmark Button

Yesterday, attorneys announced that a $13 million settlement was reached between about 200 Virginia homeowners and some of the companies that imported and sold Chinese drywall. The settlement comes too late for some, who have already left, lost, or sold their homes after nearly 40 months of litigation.

An attorney for the homeowners said the $13 million is not enough to compensate the families and it is his hope that more companies come forward to settle, so the amount of money for the homeowners increases. A New Orleans federal judge will rule on the settlement in July.

The Virginian-Pilot reports that part of the issue is that most commercial and home insurance policies do not usually cover damages caused by pollution, and the companies have argued that the Chinese drywall emits fumes that are considered pollution. Hanover Insurance Group however, which holds policies for Venture Supply and Porter-Blaine, two of the companies involved in the Chinese drywall scandal, was involved in the settlement.

Virginia Beach homeowner Colleen Nguyen, whose property was built with the drywall, said she sold her home for $474,030, less than half what she paid for it. She said, “I’m upset that it took three and a half years to learn that it’s going to be little. The only hope we have left is that we’re able to hold the Chinese manufacturer responsible to make these families whole.”

 

breakinglawsuitnews.com disclaimer: This article: Virginian Homeowners Reach $13 million Chinese Drywall Settlement was posted on Friday, June 22nd, 2012 at 2:32 am at breakinglawsuitnews.com and is filed under Construction Defect Lawsuits.

« »

Comments are closed.