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.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exelon Corp. CEO Christopher M. Crane sells Trump Tower condo for $1.32MChristopher M. Crane, the president and CEO of Chicago-based Exelon Corporation, sold his two-bedroom condominium in Trump International Hotel & Tower at a loss for $1.32 million Thursday.
Read more »
$1.4B battery plant that could become Queen Creek's largest employer gets go-aheadThe company bought 600 acres of land at an Arizona State Land Department auction in April, after announcing plans in March to build the plant.
Read more »
Home That Inspired ‘The Conjuring’ Sells for More Than $1.5MThe Rhode Island farmhouse that inspired the 2013 horror film has been sold to a Boston developer who plans to keep it open to the public.
Read more »
Harry Styles Says ‘End Gun Violence,’ Pledges to Donate Over $1 Million to Nonprofit EverytownHarry Styles has partnered with the nonprofit Everytown for Gun Safety during his upcoming North American tour and will donate over $1 million in proceeds to the organization along with Live Nation.
Read more »
Guardians make moves, including trading OF Johnson for $1The Cleveland Guardians put slugger Franmil Reyes on the 10-day injured list with a tight right hamstring and selected the contract of Oscar Gonzalez from Triple-A Columbus.
Read more »
Florida legislators pass condo reform bill in response to Surfside collapseAmong various provisions, the bill stipulates that condos taller than three stories must be inspected every 10 years after its certificate of occupancy turns 30 years old.
Read more »