Chad Fabry Posted April 9, 2010 Report Share Posted April 9, 2010 2.6 Million dollars awarded to Virginia families for damage to their homes caused by Chinese drywall. US District Judge Eldon Fallon reached this verdict and determined that the drywall used in these homes had significantly higher sulphur content than what is allowed. Judge Fallon is expected to rule on a New Orleans case in the coming weeks. Read the article from Professional Builder here. Quote Link to comment Share on other sites More sharing options...
Marc Posted April 9, 2010 Report Share Posted April 9, 2010 That's nice to hear, but I doubt that the Chinese are willingly going to pay anything at all. Marc Quote Link to comment Share on other sites More sharing options...
Terence McCann Posted April 9, 2010 Report Share Posted April 9, 2010 That's nice to hear, but I doubt that the Chinese are willingly going to pay anything at all. Marc Any idea of how much of the US debt China owns? It is an interesting Google subject. You can start by reading this. Unfortunately I would imagine they would turn a deaf ear. Quote Link to comment Share on other sites More sharing options...
hausdok Posted April 9, 2010 Report Share Posted April 9, 2010 It's not the Chinese that pay it, it will be Knauf that pays it on behalf of their subsidiary and any other privately owned companies that are producing it. ONE TEAM - ONE FIGHT!!! Mike Quote Link to comment Share on other sites More sharing options...
Scottpat Posted April 9, 2010 Report Share Posted April 9, 2010 $2.6M is not all that much when you consider that the legal profession and whoever else is going to get a sizable cut (40% + expenses) as well! Divide what is leftover and that is what they will get. I bet they will be lucky to get $50,000 per family. Watch Knauf file for bankruptcy, I'm sure that is in the plans down the road after this settlement is appealed a couple of times. Quote Link to comment Share on other sites More sharing options...
John Kogel Posted April 10, 2010 Report Share Posted April 10, 2010 $2.6M is not all that much when you consider that the legal profession and whoever else is going to get a sizable cut (40% + expenses) as well! Divide what is leftover and that is what they will get. I bet they will be lucky to get $50,000 per family. Watch Knauf file for bankruptcy, I'm sure that is in the plans down the road after this settlement is appealed a couple of times. After bankruptcy comes a cheap sell-off to a holding Co. which takes over with no obligations to pay up. [:-shades] Quote Link to comment Share on other sites More sharing options...
kurt Posted April 10, 2010 Report Share Posted April 10, 2010 Homebuilding in America, and how it gets that way. Quote Link to comment Share on other sites More sharing options...
Ben H Posted April 10, 2010 Report Share Posted April 10, 2010 $2.6M is not all that much when you consider that the legal profession and whoever else is going to get a sizable cut (40% + expenses) as well! Divide what is leftover and that is what they will get. I bet they will be lucky to get $50,000 per family. Watch Knauf file for bankruptcy, I'm sure that is in the plans down the road after this settlement is appealed a couple of times. Sad but true[!] Quote Link to comment Share on other sites More sharing options...
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