A judge approved a settlement topping $1 billion for victims of the Surfside Condo collapse (Pictures: Getty Images)
A judge approved a settlement of more than $1billion for those affected by a Florida beachfront condominium that killed 98 people when it collapsed almost a year ago to date.
The roughly $1.02 billion settlement will be split between surviving families, those who suffered injuries and the 136 condo owners.
Judge Michael Hanzman came to a decision on the matter a day before the one-year anniversary of the Champlain Towers South collapse in the Miami suburb of Surfside.
‘It will never be enough to compensate them for the tragic loss they have suffered,’ the judge said. ‘This settlement is the best we can do. It’s a remarkable result. It is extraordinary.’
The judge praised the dozens of lawyers involved in the case for avoiding what could have been years of litigation with no sure outcome.
While most of the settlement will go to those who lost family members in the disaster, about $100million was set aside for legal fees as well as $96million for the owners of condos.
Families of those who died and residents with injury and trauma claims will split nearly $1billion paid by 20 defendants, including a residential high-rise recently built next door and the security company that managed the condo tower.
An official cause for why the building collapsed has not yet been determined, though residents have said there were noticeable signs of damage and disrepair long before it fell.
This is a breaking news story, check back for updates…
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