New Orleans Construction Product Supplier Settles in Chinese Drywall Suit
The Insurance Journal is reporting a settlement agreement has been reached with a New Orleans, La.-based supplier of tainted Chinese drywall in the multi-district litigation (MDL 2047) over the product.
Attorney Russ Herman of the law firm Herman, Herman, Katz & Cotlar, L.L.P., said the settlement with Interior/Exterior and its insurers is the first settlement in the MDL with a major supplier of the Chinese drywall.
“Following Court approval, Plaintiffs will proceed to trial later this year against Interior/Exterior’s excess insurers who carry more than $72,000,000 in coverage,” Herman said.
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