ST. PETERSBURG, Fla.—A nearly $1 billion tentative settlement has been reached in a class-action lawsuit brought by families of victims and survivors of last June’s condominium collapse in Surfside, Florida, an attorney said Wednesday.
Harley S. Tropin announced the $997 million settlement during a hearing before Miami-Dade Circuit Court Judge Michael Hanzman. Still pending final approval, the settlement involves developers of an adjacent building, insurance companies, and other defendants.
“I think it’s fantastic,” Hanzman said, reacting to the update from attorneys. “This is a recovery that is far in excess of what I had anticipated.”
Earlier this year, Hanzman had approved an $83 million settlement to compensate people who suffered economic losses such as condominium units and personal property. A key question from the beginning has been how to allocate money from the property’s sale, insurance proceeds, and damages from lawsuits among wrongful death cases and property claims.
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