A tentative deal announced Friday, February 11, 2022, would pay $83 million to people who suffered economic losses such as condominium units and personal property in the collapse of a Florida building that killed 98 people.
The emerging agreement, yet to be formally reduced to writing, would set aside whatever amount above the property settlement figure for those who lost loved ones in the collapse of the 12-story Champlain Towers South condominium in Surfside, Fla.
The proposal was unveiled at a hearing Friday before Miami-Dade Circuit Judge Michael Hanzman, who is presiding over lawsuits stemming from the June 24 collapse.
If owners agree to the settlement, they would be released from any possible liability claims that could be made against them under a state law that allows condo owners to be assessed damages up to the value of their unit if their condo association doesn’t have enough insurance to cover claims.
In return, owners who survived the collapse would agree to exit a class-action lawsuit that could yield millions if it goes to trial or is settled. However, heirs of owners who died would remain in the lawsuit seeking compensation for wrongful death “and would receive the balance of any funds from the sale of the property, insurance and damages,” attorney Judd Rosen said.
Surviving owners are weighing whether to take their cut and leave the case or stay in it and, as Hanzman said, “take their chances on getting zero in a drawn-out legal battle” with the risk of being held liable for the unsafe state of the building.
“That is promising news. We’ll see how it plays out,” said Hanzman, who must approve a deal and said he would hear any objections before deciding. “There’s a strong possibility we’re going to avoid any drawn-out legal battle.”
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