Chinese Drywall MDL Approval Sought for $80 Million Deal with Defendants, Insurers

NEW ORLEANS — The plaintiffs’ steering committee in the federal Chinese drywall MDL has filed a motion for preliminary approval of an $80 million global settlement involving nearly 600 builders, installers and suppliers and 80 insurers facing potential liability as a result of the allegedly defective import. In Re: Chinese-Manufactured Drywall Products Liability Litigation, MDL No. 2047 (E.D. La.).

In the motion, made available May 22, the PSC says that the global deal is part of a larger series of settlements that have been proposed in recent months, most notably one involving Chinese drywall manufacturer Knauf Plasterboard Tianjin Co. A …