Chinese Drywall Supplier Told to Release Insurance Details

July 27, 2011

A South Florida judge has ruled that a Miami-based supplier of tainted Chinese drywall must disclose more details about a proposed $55 million class-action settlement.

A Broward County judge ruled that Banner Supply Co. must release more information about its insurance coverage and assets. It must also disclose the number of victims and how the money will be split.

A federal judge in New Orleans gave preliminary approval of the class-action settlement earlier this month.

Attorney David Durkee says the South Florida decision could potentially help thousands decide whether to take the settlement or pursue separate lawsuits in Florida.

Lawsuits claim Banner Supply sold more than a million sheets of Chinese drywall. It contains harmful toxins that corrode pipes and electrical wiring, emit sulfur gases and cause health problems.

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