WCI Communities, the bankrupt home builder that used tainted Chinese drywall in numerous developments throughout Florida may soon be setting up a trust aimed at helping some of the company’s drywall victims.

Last week, federal bankruptcy Judge Kevin J. Carey approved the adequacy of WCI’s “disclosure statement,” the company’s plan for reorganization that will now be voted on by its creditors prior to an Aug. 26 hearing.

A group of about three dozen Chinese drywall victims filed a formal objection to the previous version earlier this month.

After negotiations, Bonita Springs-based WCI and attorneys representing tainted drywall homeowners reached a compromise of sorts — amending the compnay’s plan to carve out a trust specifically for WCI’s Chinese drywall victims.

Among other things, the trust will have the power to bring lawsuits against insurers, manufacturers and suppliers aimed at paying for remediation of the contaminated drywall and other costs borne by affected homeowners. The trust also will have a small ownership stake in the reorganized company.

In this region, WCI was the developer of the Waterlefe Golf and River Club in East Manatee and the Venetian Golf & River Club in Venice.

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