Posted by on May 11, 2022 6:59 pm
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Victims of Florida condo collapse reach $997 million settlement

FILE – A Florida Fish and Wildlife Conservation law enforcement boat patrols in the ocean in front of search and rescue efforts at the Champlain Towers South condo building, where scores of people remain missing almost a week after it partially collapsed, Wednesday, June 30, 2021, in Surfside, Fla. People who owned units in a Florida oceanfront condominium building that collapsed last year will divide $83 million for property losses, with the compensation for families over the 98 deaths still to be determined. Miami-Dade Circuit Judge Michael Hanzman approved the deal Wednesday, March 30, 2022. (AP Photo/Lynne Sladky, File) Lynne Sladky/AP

Victims of Florida condo collapse reach $997 million settlement

Asher Notheis May 11, 06:47 PMMay 11, 06:47 PM Video Embed

Relatives of those killed in the Surfside, Florida, condo collapse reached a settlement Wednesday to resolve wrongful death claims.

The $997 million payout, announced in a court hearing, would settle claims brought by family members of the 98 people who died in the collapse of Champlain Towers South in June of last year, according to NBC Miami. Only one of the remaining defendants has not settled the claims but is expected to do so soon, attorneys for the victims said.

An auction date for the lot where the building once stood has also been set for May 24, with the minimum bid set at $120 million.

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The defendants whose settlements were announced in the hearing include the developer and builder of Eighty-Seven Park, a luxury condo built just south of the towers between 2016 and 2021. The developer of the park, Terra Group, and the builder, John Moriarty and Associates of Florida, along with subcontractors involved were accused of contributing to the condo’s collapse with vibrations caused by driving pile sheets into the adjacent property.

Settlements totaling $106 million had already been reached with insurers for the Champlain Towers South condo association, its engineer, its law firm, and engineers involved in the development of Eighty-Seven Park, said the NBC Miami report, which added that all of the defendants who settled previously have denied any responsibility for the condo’s collapse.

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An $83 million settlement for people who lost condo property from the collapse was settled in March and will be split based on the size of their units.

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Originally appeared at Washington Examiner

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