Tentative $83M settlement is reached for victims of Florida condo collapse

A tentative $83 million settlement has been reached for owners who survived the Surfside condo collapse in South Florida.  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 suit was filed by victims whose family members died in the collapse and victims who suffered economic harm, against defendants including developers, engineers, inspectors and consultants.  The dispute 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.  The judge wrote:  “Unit owners will receive $55 million of the first $100 million recovered from all sources. 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…..Absent some defect being brought to the court’s attention, it is highly likely to secure final approval.”  The final approval hearing is slated for 2 p.m. on March 30 at the Miami Dade County Children’s Courthouse.

Editorial credit: Felix Mizioznikov/ Shutterstock.com

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