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Knauf "Chinese" Drywall-FIRST PHASE Home Builders / Contractors Settle-Are Homeowners Next ? When ?
Knauf "settlement" offer, and if Judge Fallon approves this "First Phase", covers only Builders and Contractors, at this time. Individual Homeowners INFECTED with Knauf are still in limbo, continuing to wait for NEWS and REQUIRED CORRECTIVE FUNDING.
This settlement sounds GREAT, but as stated only covers BUILDERS and CONTRACTORS ... NOT INDIVIDUAL HOMEOWNERS.
Now back to the Knauf Builder / Developer Settlement Offer ...
Final approval by Judge Fallon is required, and full disclosure of this SETTLEMENT'S DETAILS have not surfaced, been shared, disclosed, or reviewed, by outside professionals.
Remember ... the DEVIL is in the DETAILS
One thing that can be confirmed, is the PSC (Plaintiff Steering Committee) will be paid off the top and then Plaintiffs Attorneys (Builders / Contractors)
Numerous other details, UNKNOWN at this time include ...
1) Specifically "Who" gets paid
2) How much each entity is eligible to receive
3) How settlement funding is or will be determined
4) When will distribution of funds or payments occur
5) Who will handle disbursements
6) How many homes, condos, or structures are included
7) Is this settlement tied to other settlements or limits future settlements
8) How are Attorneys or Lawyers compensated
9) What specific corrective Protocol will be used
10) What will specifically be covered by settlement
Without raining on the parade or Knauf Builder / Developer Settlement Offer, celebrations need to wait until FINAL DETAILS and Judge Fallon's approval occur.
My question is when will Individual Homeowner Settlements occur ???
Thank you for your time and interest,
Michael S. Foreman
Foreman and Associates, Inc.
Forensic Construction Consultants
# # #
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Page Updated Last on: Nov 17, 2011