Surfside Condo Collapse Victims Settle Suit for Over $1 Billion

Search and rescue personnel working atop the rubble at the Champlain Towers South condo building on June 30, 2021 in Surfside, Fla. (AP Photo/Lynne Sladky, File)

By Hamodia Staff

In a court hearing Wednesday, May 11, the victims of the Champlain Towers South condominiums in Surfside, Florida have reached a $997 million settlement with various parties, the Wall Street Journal reported.

The settlement does not include an additional $120 million guaranteed opening bid in the May 24 auction scheduled for the property

The funds agreed to in the class action lawsuit includes $83 million for those who lost property, and will be distributed based on the size of the lost units. The remainder of the funds will be given to the families of the 98 people who died in the collapse on June 24, 2021.

Terra Group and John Moriarty and Associates of Florida, the developer and builder of Eighty-Seven Park, a luxury condo built just south of the towers built between 2016 and 2021, are included in this settlement are. The one remaining defendant that has not yet settled the claims is expected to settle soon as well, said the attorneys for the victims.

The lawsuit contended they contributed to the collapse by the vibrations they made when they were driving pile sheets into the adjacent property.

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