Lawyers: Nearly $1B tentative settlement in condo collapse
ST. PETERSBURG, Fla. • A nearly $1 billion tentative settlement has been reached in a class-action lawsuit brought by families of victims and survivors of last June’s condominium collapse in Surfside, Fla., an attorney said Wednesday.
Harley Tropin announced the $997 million settlement during a hearing before Miami-Dade Circuit Court Judge Michael Hanzman. Still pending final approval, the settlement involves insurance companies, developers of an adjacent building and other defendants.
“I’m shocked by this result — I think it’s fantastic,” Hanzman said.
This year, Hanzman had approved an $83 million settlement to compensate people who suffered economic losses such as condominium units and personal property. A key question from the beginning has been how to allocate money from the property’s sale, insurance proceeds and damages from lawsuits among wrongful death cases and property claims.
The 12-story Champlain Towers collapsed in the early-morning hours of June 24, destroying dozens of condo units and burying victims.
FILE — A giant tarp covers a section of rubble where search and rescue personnel have been working at the Champlain Towers South condo building, as demolition experts were preparing to bring down the precarious still-standing portion, Sunday, July 4, 2021, in Surfside, Fla. A nearly $1 billion tentative settlement has been reached in a class-action lawsuit brought by families of victims and survivors of last June’s condominium collapse in Surfside, Fla., an attorney said Wednesday, May 11, 2022. (AP Photo/Lynne Sladky, File)