Another victory in Chinese drywall class action

NEW ORLEANS, LA (WLOX) - Another step forward for the thousands of homeowners who have filed claims against suppliers of Chinese drywall. That's according to Biloxi attorney Jim Reeves who is the court appointed Class Counsel for our state and all others outside of Louisiana.

In a court filing in New Orleans this morning another Chinese Drywall supplier, Banner Supply out of Florida, has agreed to pay millions of dollars to settle that Chinese Drywall damaged homes and made them unlivable. Banner will pay 55 million dollars which is the extent of the companies Insurance Coverage.

This settlement follows another multi million dollar agreement in April with Interior/Exterior Building Supply and two of its insurers.

Reeves says both companies distributed Knauf drywall in the region and he says that the class is going after the smaller companies and working their way up the food chain.

On WLOX News at Five Jim Reeves will be here to explain what this settlement means to South Mississippians who are part of the class action suit.

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