Knauf’s Settlement Offer Requires Close Scrutiny

Knauf’s newly announced “pilot program” to repair some 300 homes is a first sign that one of the world’s largest makers of contaminated Chinese drywall is beginning to accept some responsibility for the significant damages its defective product have caused. The victims have suffered tremendously – and not only in terms of property damages. They have also been hit financially, emotionally and suffered health risks.  Nonetheless, the settlement announced Thursday by Knauf may be a step in the right direction.

Our firm is closely reviewing documents on behalf of our 33 clients listed in the settlement proposal and determining whether the resolution adequately addresses our clients’ needs under the circumstances.  The pilot program won’t help most of the tens of thousands of victims affected by this toxic drywall – only a small handful.   To be considered, a home must have been built with primarily Knauf drywall.  A vast majority of the damaged homes in Florida were built with a combination of drywall from several companies. Stay tuned for more updates as we look deeper into this settlement offer.