After agreeing to a $55 million preliminary settlement in June, Banner Supply Co. must now provide affected homeowners with the company's financial information, according to a recent ruling from a Florida state court lawsuit, In Re: Chinese Drywall Litigation, Case No. 11-70000, in the Circuit Court for the 17th Judicial Circuit of Broward County.  On Monday, Florida Circuit Court Judge Charles Greene ordered Banner to disclosure the company's net worth, insurance policy information, and the potential number of homeowners covered by the deal so that the plaintiffs and the court can better evaluate the fairness of the preliminary settlement.  If approved, eligible Florida homeowners would be able to decide to either proceed with the Florida state court action or opt into the settlement, which was proposed as part of the multi-district litigation pending in the United States District Court for the Eastern District of Louisiana, In Re: Chinese-Manufactured Drywall Products Liability Litigation, Case No. 09-md-2047.  Four of Banner's insurers are to fund the settlement through Banner's liability insurance.  Earlier this month, the preliminary settlement was approved by the Louisiana federal court.

For more information about the status of the Banner settlement, click here.