Will pay up to $8 million: A Chinese drywall supplier’s insurers have agreed to pay up to $8 million to settle court claims against the company over damage to homes from the corrosive product, according to a proposed settlement filed today. U.S. District Judge Eldon Fallon in New Orleans must approve the deal between plaintiffs’ attorneys, Interior/Exterior Building Supply and two of its three insurers. The settlement would cover just a share of thousands of claims from homeowners claiming the drywall caused problems ranging from foul odors to corrosion of electrical wiring, appliances and electronics. Interior/Exterior supplied drywall made by two Chinese companies—Knauf Plasterboard Tianjin Co. and Taishan Gypsum Co.—to builders in Texas, Louisiana, Mississippi and Alabama. At least 1,200 to 1,500 property owners are eligible for portions of the $8 million settlement fund. Payments from previous settlements of claims against Interior/Exterior will be deducted from the fund.
Beat target, with weeks to go before filing deadline: More than 1.4 million people have electronically filed Louisiana Individual Income tax returns this year. That’s more than the 1.37 million who filed electronically during all of 2010, says the Louisiana Department of Revenue. Cynthia Bridges, secretary of revenue, says the continuing rise in popularity shows the ease of electronic filing and the confidence people have in the system. The deadline for filing state taxes is May 16.
