WCI Communities is scheduled to emerge from bankruptcy protection, which is great news from WCI community residents with Chinese Drywall. WCI Communities will now setup a trust account to deal with the many Parkland homeowners affected by Chinese Drywall in their homes.
Finally, these residents will be able to receive relief from WCI Communities, who did not have to address the Chinese Drywall problem because the company was protected under the bankruptcy laws.
The Tampa Bay Business Journal reports, “In January, WCI said in a filing with the Securities and Exchange Commission that it was setting aside $11 million for homes that needed air conditioning coil replacement, “which may or may not be related to the Chinese drywall.”
According to the Sun-Sentinel, WCI Communities stated in court documents at least 200 WCI built homes had defective drywall. Parkland Golf & Country Club and some communities in Heron Bay were the two major areas in Broward County affected with Chinese Drywall.
I wrote an earlier article: Parkland Chinese Drywall Task Force where the City of Parkland has setup a task force to deal with this direct issue. Let’s see how the city responds to this news from WCI Communities.
WCI Communities also stated that affected homeowners must file claims. I strongly recommend that Parkland residents with Chinese Drywall in their homes consult with a local attorney.
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