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Judges okay with surfside reconciliation worth more than $ 1 billion

A Florida judge first approved a total of more than $ 1 billion in settlements for families and victims of the deadly surfside condominium collapse.

Miami-Dade Circuit Judge Michael Handsman said at a remote hearing on Saturday that reconciliation was the best solution for disaster-affected people, including those who lost their loved ones and those who lost their homes. Said there was. Handsman, who oversees the proceedings related to the collapse, called it a “great result” before issuing the approval stamp.

Almost a year has passed since the large wings of Champlain Towers South suddenly collapsed on the surfside, a quiet suburb of Miami Beach. The tragedy began a major search, with first responders and rescue teams combing through the wreckage of sea-facing dwellings for nearly two weeks.

Only three people were pulled out of the rubble in the aftermath of the collapse, which also claimed the lives of 98 people. Officials said about three dozen other residents were able to escape from the 135-unit building and were eventually demolished.

The settlement consists of two different pots. The first pot is $ 1.02 billion and is split among those who lost their loved ones when the 12-story condo tower collapsed. An additional $ 96 million will be shared by people who have lost their property due to the destruction of their condos, furniture and other souvenirs.

No one has pleaded guilty, but insurance companies, engineering companies, and the nearest luxury condominiums are all expected to contribute to the funding. Dubai’s billionaire developers will buy a 1.8-acre (1 hectare) beachside site for $ 120 million, which will also be settled.

With news wire service

Judges okay with surfside reconciliation worth more than $ 1 billion

Source link Judges okay with surfside reconciliation worth more than $ 1 billion

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