The quick settlement of the unprecedented collapse of the 12-story Champlain Towers South building in the early morning hours of June 24, 2021, means that potentially years of court battles will be avoided.
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Miami-Dade Circuit Judge Michael Hanzman, who is overseeing the lawsuits filed after the collapse, said during a hearing held remotely it was the best possible outcome given the loss of life and property in the disaster. Attorney Michael Goldberg, the court-appointed receiver handling in the case for the judge, said notice will go out to all the family members of those who died, will be posted on the Champlain Towers SouthThe total for the families who lost loved ones in the collapse is about $1.02 billion. Separately, people whose condos were destroyed and lost property such as furnishings and mementos will share about $96 million.
The money comes from several sources, including insurance companies, engineering companies and a luxury condominium that had recently been built next door. None of the parties are admitting wrongdoing. A billionaire developer from Dubai is set to purchase the 1.8-acre beachside site for $120 million, contributing to the settlement.
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