$83M For Victims Of Champlain Towers South Collapse

$83M For Victims Of Champlain Towers South Collapse

Introduction

An $83 million settlement has been awarded by a Florida judge to the victims affected due to the collapse of Champlain Towers South residential building located in Surfside.

As per the court documents, on June 24, a part of the condo building collapsed in the middle of the night, killing 98 people. The victims of the accident ranged from 1 to 92 years old. The settlement was agreed upon in February, which stated that the condo association's insurance carrier will contribute $50 million of the total amount. The remaining $33 million would be generated from the sale of the property where the building stood. The opening bid for the property is set at $120 million.

The judge approved the settlement after listening to an emotional testimony that brought him to tears during the trial. The victims were referred to as the wrongful death class, and the survivors were addressed as economic class.

The jury even informed that the settlement is mandated with two conditions where the condominium owners will get the money only after the sale of the property, and $750,000 will be deducted to compensate counsel and for the past expenses of maintaining the property.