Attorneys for the families who lost relatives or homes in last year’s collapse of a Florida condominium tower that killed 98 people have reached a $1.02 billion settlement.
FILE - A giant tarp covers a section of rubble where search and rescue personnel have been working at the Champlain Towers South condo building on Sunday, July 4, 2021, in Surfside, Fla. Attorneys for the families who lost relatives or homes in last years collapse of a Florida condominium tower that killed 98 people finalized a $1 billion settlement on Friday, May 27, 2022. reached a $1.02 billion settlement Friday, providing a speedy resolution to lawsuits that could have dragged on for years.
Lawyers previously had announced in court a tentative agreement that almost $1 billion would be split by the families whose relatives died or were harmed in the collapse of the 12-story tower in Surfside, and parties on both sides of the lawsuit filed a motion Friday committing to a $1.02 billion settlement fund. Additionally, nearly $100 million will be split by those who lost their property in the collapse.Families of victims will have to file claims, as the money will not be split evenly.
The judge will determine the attorneys fees, but it is expected to be a fraction of the third lawyers would normally earn. Cases like this typically take three years or more to reach a settlement, let alone get to trial. No other survivors were found despite around-the-clock efforts by rescuers who dug through a 40-foot high pile of rubble for two weeks. Another three dozen people were able to escape from the portion of the building that remained standing. All 135 units were ultimately demolished, leaving a gaping hole along Surfside's beachfront.
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