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Victims of Florida condo collapse could receive nearly $1bn in settlement

Victims of Florida condo collapse could receive nearly $1bn in settlement

An attorney said Wednesday that a roughly $1 billion tentative settlement has been struck in a class-action lawsuit filed by families of victims and survivors of last June’s condominium collapse in Surfside, Florida.

During a hearing before Miami-Dade Circuit Court Judge Michael Hanzman, Harley S Tropin announced the $997 million settlement.

The deal, which is still seeking final approval, includes insurance companies, builders of an adjacent building, and other defendants.

Hanzman agreed at $83 million settlement earlier this year to reimburse people who lost money comparable to condominium models and private property.

How to apportion funds from the property’s sale, insurance earnings, and damages from lawsuits among wrongful death cases and property claims has been a significant question from the start.

“I’m shocked by this result. I think it’s fantastic,” Hanzman stated.

“This is a recovery that is far in excess of what I had anticipated.”

The 12-story Champlain Towers South condominium rapidly collapsed in the early morning hours of June 24, shattering dozens of individual condo models and burying people beneath piles of rubble.

Rescuers dug through mountains of concrete for weeks, first looking for survivors and then improving the conditions of those who died. A total of 98 people were killed in the attack.

The primary case, filed on behalf of Champlain Towers South victims and family members, claims that work on the adjacent Eighty Seven Park tower damaged and destabilized the Champlain Towers building, which was in desperate need of structural repair.

When Champlain Towers partially collapsed to the ground, it was in the middle of a 40-year structural evaluation.

Miami-Dade and Broward were the only two counties in the state with condominium recertification packages at the time of the crash.

The Champlain Towers were built in Surfside, a town just north of Miami Beach. The little-known area has a mix of older houses and condominiums, similar to the collapsed tower, built for the middle class in the past and more recently created opulent condos attracting the wealthy.

Ivanka Trump, the former first daughter, and her husband, Jared Kushner, live a few blocks north of the fallen condo.