Banks Not Participating in Florida Drywall Case

By: AP
By: AP

Miami, Florida (AP) --

Banks that own some Florida homes containing faulty Chinese drywall are refusing to participate in a class-action lawsuit brought by other homeowners.

A Miami-Dade County judge has set a hearing Friday, October 1 on whether to extend the time frame for banks to join the case. Attorney Victor Diaz says at least four banks that own contaminated homes through foreclosures have ignored requests to join the case, the first
class-action Chinese drywall case headed to trial in the country.

Diaz says the banks' refusal to take part could limit damages
paid out. The banks could lose the right to receive any damages.

Chinese drywall installed in thousands of homes in Florida and
elsewhere has caused problems ranging from a foul odor to corrosion
of pipes and wiring.

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