A residential building partially collapsed in Surfside, Florida, north of Miami Beach, on June 24, 2021.
File Photo By Gary I Rothstein/UPI | License Photo
March 10 (UPI) -- Lawyers for unit owners who survived the Surfside condo collapse in South Florida last June have reached a tentative $83 million settlement.
The partial collapse of the 12-story Champlain Towers South condo building on June 24, 2021, in Surfside, Fla., near Miami Beach, killed 98 people, destroyed 55 condominium units, and the remainder of the 136-unit building had to be demolished.
A class action ensued against defendants including developers, engineers, inspectors and consultants, by victims whose family members died in the collapse and victims who suffered economic harm, according to court documents obtained by Local10.com, and ABC News.
A dispute broke out between the victims of property loss and the families of non-owners who lost their lives in the collapse with some of the families of those who died believing that they should receive full compensation before other people are compensated for property claims.
Circuit Judge Michael Hanzman's order grants preliminary approval to the settlement agreement between property claims and wrongful death or personal injury claims.
The agreement creates an $83 million Common Fund to compensate unit owners for the loss of their condominium units and contents, in exchange for relieving them from any liability in the injury and wrongful death claims, according to the document.
"Unit owners will receive $55 million of the first $100 million recovered from all sources," the judge wrote. "The remaining $33 million will be paid out of the first dollars recovered over $100 million. All other funds will inure solely for the benefit of wrongful death claimants."
"Put simply, upon acceptance of their proportionate share of the $83 million Common Fund, surviving unit owners will leave this case with no further liability, except to any tenant or guest who may have occupied their particular unit at the time of the collapse," the judge added. "The same is true for the families of deceased unit owners who accept their proportionate share of the $83 million Common Fund. Their wrongful death claims, however, are unaffected by the agreement."
The judge referred to the agreement negotiated by counsel for the property claims and counsel for the injury and wrongful death claims with the assistance of a mediator as "a reasonable compromise of competing claims."
"Absent some defect being brought to the court's attention, it is highly likely to secure final approval," the judge wrote.
The final approval hearing is slated for 2 p.m. on March 30 at the Miami Dade County Children's Courthouse. Any objections must be submitted in writing no later than March 23.
March 10 (UPI) -- Lawyers for unit owners who survived the Surfside condo collapse in South Florida last June have reached a tentative $83 million settlement.
The partial collapse of the 12-story Champlain Towers South condo building on June 24, 2021, in Surfside, Fla., near Miami Beach, killed 98 people, destroyed 55 condominium units, and the remainder of the 136-unit building had to be demolished.
A class action ensued against defendants including developers, engineers, inspectors and consultants, by victims whose family members died in the collapse and victims who suffered economic harm, according to court documents obtained by Local10.com, and ABC News.
A dispute broke out between the victims of property loss and the families of non-owners who lost their lives in the collapse with some of the families of those who died believing that they should receive full compensation before other people are compensated for property claims.
Circuit Judge Michael Hanzman's order grants preliminary approval to the settlement agreement between property claims and wrongful death or personal injury claims.
The agreement creates an $83 million Common Fund to compensate unit owners for the loss of their condominium units and contents, in exchange for relieving them from any liability in the injury and wrongful death claims, according to the document.
"Unit owners will receive $55 million of the first $100 million recovered from all sources," the judge wrote. "The remaining $33 million will be paid out of the first dollars recovered over $100 million. All other funds will inure solely for the benefit of wrongful death claimants."
"Put simply, upon acceptance of their proportionate share of the $83 million Common Fund, surviving unit owners will leave this case with no further liability, except to any tenant or guest who may have occupied their particular unit at the time of the collapse," the judge added. "The same is true for the families of deceased unit owners who accept their proportionate share of the $83 million Common Fund. Their wrongful death claims, however, are unaffected by the agreement."
The judge referred to the agreement negotiated by counsel for the property claims and counsel for the injury and wrongful death claims with the assistance of a mediator as "a reasonable compromise of competing claims."
"Absent some defect being brought to the court's attention, it is highly likely to secure final approval," the judge wrote.
The final approval hearing is slated for 2 p.m. on March 30 at the Miami Dade County Children's Courthouse. Any objections must be submitted in writing no later than March 23.
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