Florida Condominium Collapse Victims Reach Nearly $1 Billion Settlement: Report

(Reuters) – Victims of Florida’s Surfside condominium collapse and their families have agreed to a $997 million settlement with insurers and other entities, the Wall Street Journal and Miami Herald reported on Wednesday.

Nearly 100 people were killed when the 12-story Champlain Towers South near Miami Beach abruptly collapsed in June 2021. Crews searched through the rubble for more than a month to recover and identify the remains of victims.

«We’ve got $997 million in proposed settlements before you — and it could be $1 billion before the end of the week,» Harley Tropin, an attorney representing the plaintiffs, told a judge during a hearing Wednesday, the Herald reported.

«We are going to finish. The money will be distributed. These victims will get some measure of relief,» Tropin said, according to the Herald.

Miami-Dade Circuit Court Judge Michael Hanzman told both sides that he hoped to have the case resolved by the one-year anniversary of the collapse, June 24.

(Reporting by Katharine Jackson and Dan Whitcomb; Editing in Spanish by Juana Casas)