Judge approves US$1 billion settlement for families of victims in Florida building collapse
- The quick settlement of the collapse of the block of flats in Surfside, Miami on June 24, 2021 means that potentially years of court battles will be avoided
- 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
A Florida judge on Saturday gave initial approval to a settlement of more than US$1 billion to families who lost loved ones in the collapse last year of a Florida beachfront condominium building in which 98 people died.
The quick settlement of the unprecedented collapse of the 12-storey Champlain Towers South building in the early morning hours of June 24, 2021, means that potentially years of court battles will be avoided.
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.
“It is a great result,” Hanzman said before giving preliminary approval to the agreement, which was announced on Friday. “This was a very contested deal.”
Rachel Furst, co-chair of the legal group representing victims’ families, said the agreement also means defendants – insurance companies, developers, the city of Surfside and others – will have “complete peace” that they will not be sued again. Still, some people may decide to opt out of the deal and pursue their own independent claims.
“This was heavily negotiated,” Furst said. “We believe this is an outstanding settlement.”
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.