|
Frequently Asked Questions about Louisiana Pacific
(LP) Siding.
The following information is based on information provided at
http://www.lpsidingclaims.com/
and printed publications about the LP Class Action Settlement.
What is Louisiana Pacific Inner Seal siding?
It is a wood chip composite exterior siding sold from 1985 to the
present. It was manufactured in both lap style and 4X8 panel
(T1-11).
How can I find out if I have Louisiana Pacific Inner
Seal siding?
-
On the back of LP siding there will be a printed name or tag.
-
LP Siding has a "signature knot" design which is found
on both lap and panel styles.
How do I know if my siding is damaged?
More advanced stages of damage will show rot and mushroom
growth. However in most cases the damage hasn't reached such a severe
point and shows up in several of the following forms.
-
Swelling at the bottom of the lap or panel
where can water hang before dropping.
-
Delimitation of the face from the rest of the board.
-
Cracks under the drip edge of the board.
-
Warping of the siding.
-
Discolored spots that look like a clear oil
that has soaked in on the surface of the siding.
For which years does the class
action law suit cover?
Only siding installed between the mid 1980's and January 1, 1996 is covered under the class
action lawsuit. If you have LP siding bought after January 1, 1996 that
has failed, please refer to your warranty.
Who do I call to get into the class action law suit?
The number to request a class action claim information packet is
1-800-245-2722. The automated service is provided by the company employed to handle the class
action law suit.
What are some of the problems associated with
replacing my LP siding?
NEVER go over the top of the LP Lap or Panel siding as the damage under
it is unknown! It is recommend that parts of the old vapor barrier be
removed when you tear
off the old siding
so you can inspect the sub-sheathing for fungal degradation. Water may
have infiltrated behind the siding through nail holes, corners, and seams and
has rotted sections of
the sub-sheathing which will need to be repaired before installing new
siding. Also in some cases a fungicide may need to be applied to the sub-sheathing to kill any
fungus spores that might be
present when you put new siding on. In addition applying a sealant
to the bottom
edge of the sub-sheathing will help to prevent
rot from water splash-back when it rains.
How much money will I get to replace my damaged
siding?
The
amount of
money received varies by type the type of siding used (lap or panel),
age, extent of damage, and
total amount of
siding on the home. You should receive about half to a third of the replacement
cost depending on how much devaluation has occurred upon your warranty.
When can I expect to get my money from LP?
It can take up to 3+ years to
receive your money from the time you submit your claim.
Will LP run out of money?
LP is obligated to pay a minimum of $275 million over the seven year period of
the Settlement Of that amount only $80 million remains which will
be paid out in installments of $30 million, $20 million, $15 million and $15 million. These installments are required to be funded in June
1999, June 2000, June 2001 and June 2002, respectively.
In addition LP has two optional
contributions of $50 million, they can make in August 2001 and August 2002.
However, in Spring 1998, it became apparent that the pace of claims received
exceeded the annual funding obligations of LP under the Settlement
Agreement and an Early Payment Program and a Second Settlement Fund were developed.
However participation in this new program is voluntary.
The above information is based on information provided at
http://www.lpsidingclaims.com/
and printed publications about the LP Class Action Settlement.
|