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Nearly $ 1 billion in advance agreement in the collapse of the apartment

ST. PETERSBURG, FL “A preliminary agreement of nearly $ 1 billion was reached in a class action lawsuit filed by the families of victims and survivors of the June condominium collapse in Surfside, Florida,” a lawyer said Wednesday.

Harley S. Tropin announced the $ 997 million deal during a hearing before Miami-Dade District Court Judge Michael Hanzman. Still awaiting final approval, the agreement includes insurance companies, contractors in a neighboring building and other defendants.

“I’m shocked by this result – I think it’s fantastic,” said Hanzman. “It’s a recovery that goes far beyond what I expected.”

Earlier this year, Hanzman approved a $ 83 million deal to compensate people who suffered economic losses, such as condominiums and personal property. A key issue from the outset was how to distribute the money from the sale of the property, insurance proceeds and damages from lawsuits between wrongful death cases and property claims.

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The 12-story Champlain Towers South air conditioner collapsed abruptly in the early morning hours of June 24, almost instantly destroying dozens of individual housing units and burying victims under tons of rubble. Rescuers spent weeks carefully digging concrete mountains, first to find survivors and later to find the remains. A total of 98 people died.

The main lawsuit, filed on behalf of Champlain Towers South victims and family members, alleges that work on the nearby Eighty Seven Park Tower damaged and destabilized the Champlain Towers building, which needed major structural repairs. Champlain Towers was in the midst of its 40-year structural review when it partially collapsed to the ground.

A video released by a team of federal investigators shows evidence of extensive corrosion and overcrowded concrete reinforcement in the building.

The collapse sparked lawsuits by victims, families and apartment owners and sparked state and federal investigations. In December, the Florida Grand Jury issued a long list of recommendations aimed at preventing a new collapse of condominiums, including earlier and more frequent inspections and better waterproofing.

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And in February of this year, the Florida House unanimously passed a bill that would require re-certification in the state of each condo building over three floors. The bill will require re-certification after 30 years or 25 years if the building is within 3 miles (5 kilometers) of shore, and every 10 years thereafter.

At the time of the crash, Miami-Dade and Broward were the only two of the state’s 67 counties to have condominium re-certification programs.

Champlain Towers was located in Surfside, a town north of Miami Beach. The little-known enclave consists of a mixture of older homes and apartments, similar to the collapsed tower built decades ago for the middle class, and recently built luxury apartments that attract the rich. This includes former first daughter Ivanka Trump and her husband Jared Kushner, who live about a block north of the collapsed apartment.

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Nearly $ 1 billion in advance agreement in the collapse of the apartment

Source link Nearly $ 1 billion in advance agreement in the collapse of the apartment

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