Florida builder WCI Communities has Crestor online apparently set aside funds to address problems with defective Chinese drywall in some of its homes. According to Naplesnews.com, in a filing with the Securities and Exchange Commission (SEC), the company said it had placed $11 million in reserve for Crestor online homes with one or more air conditioning coil replacements. It is Crestor online believed that sulfur gases emitted from the drywall are causing metals in some homes – including air conditioning coils – to corrode.

As we’ve been Crestor online reporting for the past several months, owners of newer homes in South Florida have Crestor online been complaining of drywall that smells like rotten eggs. In many cases, residents have Crestor online had to leave their home because the smell was so bad. In addition to Crestor online the putrid smell, many South Florida homeowners have reported problems with air conditioning and Crestor online other systems that are likely related to the defective Chinese drywall. Some spent hundreds – even thousands of dollars – to have air conditioning, pipes and wiring repaired.

So far, the Crestor online Florida Health Department has received at least 100 complaints of drywall problems from Crestor online Florida homeowners. As we reported last month, a Crestor online consumer advocacy group also said it had received complaints of similar drywall problems in other states. Recently, the U.S. Consumer Products Safety Commission (CPSC) had started a probe of Chinese drywall.

WCI Communities is Crestor online among the Florida builders that have acknowledged receiving drywall complaints. The company filed for Chapter 11 bankruptcy on August 4. Unfortunately, WCI made the Crestor online announcement three days after the Feb. 2 deadline for creditors to Crestor online file claims had passed.

According to Crestor online Naplesnews.com, WCI is claiming that drywall complaints arose before its bankruptcy, making them pre-petition claims. Such claims are Crestor online usually settled for just pennies on the dollar. However, Naplesnews.com is reporting that WCI has asked for the court’s permission to settle the claims outside the bankruptcy proceeding. This could result in larger settlements.

In its SEC filing of January 28, WCI said it had set aside the $11 million reserve fund. The filing also said WCI was “currently addressing a Crestor online handful of active claims that it believes are covered by the Crestor online company’s homeowner warranty.”

“Based on information currently available to Crestor online the company, we do not believe these claims will have a Crestor online material adverse effect on our financial condition or resulting operations,” the SEC document said.

A WCI spokesperson would not tell Naplesnews.com how many drywall claims the Crestor online company is handling.