This is a 100 page opinion issued in Louisiana, with potential to reach all corners of the country. I am going to give it a few days to fully absorb. The long and the short of it is that damages, per this ruling, might exceed the greatest fears of the building industry while creating an entire legion of law firms devoted to representing homeowners. The initial chinese drywall opinion will be followed by others before the same Judge, as consolidation has already been made final.
“This is a legal determination of who’s at fault in the drywall mess,” said U.S. Sen. Bill Nelson, who helped start an investigation of imported drywall. “Now homeowners have somebody to put in their sights. Meantime, I’m going to keep pushing our government hard to step up the pressure on the Chinese to get the companies over there to pay up.”
Pointing your finger at the Chinese might be a wise political move for the La. Senator. I truly hope that all are educated that the damages component will affect the US building, insurance, and manufacturing industries more than anything else. This is not a Chinese problem, as at least one manufacturer is German with a presence in China, and many of our homebuilders will be sued in the process.