Under the agreement, people involved in the settlement directly will have until June 16 to file a notice they intend to opt out.
A week later on June 23, Judge Hanzman will have a fairness hearing to allow anyone objecting to the settlement to be heard.
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 South The 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.
Families of victims will have to file claims, as the money will not be split evenly. The goal is to begin distributing money by September. 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.
Only three 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., a process expected to take years.
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