Families of victims of the Surfside, Florida condo collapse have agreed to a $997 million settlement for loss of life and property.
The settlement, revealed in a court hearing on Wednesday, includes insurance companies, developers and defendants, the New York Times reported. Final approval is pending.
It comes six weeks before the one-year anniversary of the June 24 collapse of the Champlain Towers South.
The 12-story condominium near Miami Beach suddenly partially collapsed, and crews searched the rubble for more than a month for survivors and victims. It killed 98 people and is considered one of the deadliest accidental building collapses ever seen in the United States.
“Our customers are victims of a tragedy. When you have lost a loved one, no amount of money is (enough),” said a plaintiffs attorney, Harley Tropin. “But customers are happy with this recovery. Very pleased.’
Judge Michael Hanzman of the Miami-Dade County Circuit Court previously approved a smaller $83 million settlement to be split among condominium owners for forfeited assets.
But the settlement grew after victims’ attorneys, contractors and consultants being sued by survivors, and developers of the luxury building Eighty Seven Park next door joined the case.
“I’m shocked by this result – I think it’s fantastic,” said Hanzman. “This is a recovery far beyond what I expected.”
The settlement could exceed $1 billion if an agreement is reached with one remaining company, lawyers said.
Both sides hoped to resolve the case by the one-year anniversary of the collapse, Hanzman said.
“We’ve received $997 million in proposed settlements before you — and it could be $997 million by the end of the week,” Tropin told the Miami Herald. “We’ll be done. The money is distributed. These victims will experience some measure of relief.”
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https://metro.co.uk/2022/05/11/surfside-condo-collapse-victims-reach-nearly-1billion-settlement-16628705/ Victims of Surfside condo collapse win nearly $1 billion in compensation