SURFSIDE, FL – People who owned condominiums in a building in Florida that collapsed nearly a year ago but was not among the 98 people killed will share at least $ 96 million from the court agreement, a judge said Tuesday.
The initial amount for property owners – in contrast to the families of 98 victims collapse on June 24 The Champlain Towers South building in Surfside – previously set at $ 83 million, but District Judge Michael Huntzman agreed at the hearing that a larger amount was due to 136 apartment owners in the 12-story home.
“I am anxious to complete this case and get the money into the hands of the victims,” Huntsman said, noting that under Florida law apartment owners could be valued big money to pay for the loss of the building.
“This is a great result for property owners,” the judge said.
On Tuesday, lawyers said families who lost loved ones in the crash would share more than $ 1 billion. The exact details of this settlement must be made by Friday, after which a hearing will be held for any objections. A billionaire developer from Dubai is going to buy a beach area of 1.8 acres (1 ha) for $ 120 million.
Lawyer Harley Tropin, representing the plaintiffs in the case, said the final repayment for the deaths from the collapse of the apartment building had risen to more than $ 1 billion, more than the $ 997 million announced in court earlier.
The twin settlements are still working, but Huntsman said the case must be resolved by September so that the families of the victims and property owners know what to expect. It would still be an unusually quick settlement for a case of this magnitude, lawyers said.
“One of the advantages of the agreement is finality,” the judge said.
Most of the building suddenly collapsed around 1:20 a.m. June 24 last year as most of its occupants were asleep. Only three people survived the initial collapse.
No other survivors were found, despite the round-the-clock efforts of rescuers, who dug up a 40-foot (12-meter) pile of rubble for two weeks. Three dozen more people were in the part of the building that remained standing, but was eventually demolished.
The National Institute of Standards and Technology is investigating the causes of the collapse, a process that is expected to take years.
In the trial, Judge Huntzman set a noon on Friday for filing a final amicable settlement. If that doesn’t happen, the judge said he will hold a full hearing as to why the final deal was not reached.
“At some point, this plane should arrive for landing,” Huntzman said.
