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1.2 Billion Dollar Settlement Finalized for the Victims of Champlain Tower Collapse

By: Jayden Dudek

On June 23, 2022, a Florida judge finalized a $1.2 billion settlement for the property owners and families of the Champlain Tower Surfside Condominium.

Almost a year ago, a quarter of the Surfside Condo went down instantly, followed by another quarter, resulting in the deaths of 98 people.

All of the survivors were satisfied with the Judge’s ruling. People thanked Judge Michael Hanzman for his effort.

Finalizing this settlement within a year of when the incident occurred is significant. If it went to trial, it would take many years, and there would still be a risk that an agreement would not be made.

"These victims and families would have had to suffer through that and endure this trauma over and over and over again," says Judge Hanzman in an article by NPR.

The total amount of the settlement is around $1.2 billion. $96 million is the sales estimate of the land and $1 billion will be paid by 20 defendants. Owners of condo units will split $96 million and victims will split $1 billion.

Link to Article: https://www.npr.org/2022/06/23/1107080359/one-year-after-surfside-condo-collapse-in-florida-a-legal-settlement-is-approved

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