Homebuilders, Excess Insurer Oppose Interior Exterior Drywall Settlement

NEW ORLEANS - Homebuilders and an excess insurer are among the parties that have filed objections to a proposed settlement between Interior Exterior Building Supply Co. and plaintiffs with claims against the Chinese drywall supplier. In Re: Chinese-Manufactured Drywall Products Liability Litigation, MDL No. 2047 (E.D. La.).

The federal MDL Homebuilders' Steering Committee filed its opposition to the agreement May 3 in U.S. District Court for the Eastern District of Louisiana, claiming it was left out of negotiations and could have its rights to recover millions of dollars in remediation costs eviscerated if the deal is approved.

"Insofar as the …