\Most Floridians will need no reminder to recall the events of June 24, 2021, when the condominium tower known as Champlain Towers South collapsed. 98 people lost their lives, and many more had their homes destroyed by the collapse.
Most people knowledgeable about construction litigation expected many lawsuits to be filed and that many years would pass before the cases were resolved. Much to everyone’s surprise, Miami -Dade Circuit Judge Michael Hanzman has approved tentative settlements of all claims.
The settlement terms
The potential plaintiffs were divided into two groups: those claiming the wrongful death of a family member and those claiming property damage for the loss of their homes. After acknowledging the sharply contested disputes, Judge Hanzman said that the settlement was a “great result.”
The families who lost loved ones will divide the sum of $1.02 billion. Each family who is seeking damages for the death of a family member is required to file written claims with the court Plaintiffs whose condos were destroyed but who suffered no physical injuries will divide about $96 million.
Much of the money used to fund the settlement payments will come from insurance companies, engineering companies and a luxury condominium building recently build next to the Champlain Towers site. A wealthy developer from Dubai has announced an agreement to purchase the site for $120 million; most of the proceeds of this sale will be contributed to the settlement funds.
The settlement agreements allow potential claimants to declare their intention to not participate in the settlements. The so-called “opt-out” notices must be filed by June 16. The court will hold a hearing on June 23 for persons objecting to the terms of the agreement to present evidence supporting their objections. Notices of the settlements will be mailed to the family members of all persons who died in the collapse, posted on the Champlain Towers South website, and published in the Miami Herald.
Advantages to the defendants
The attorney who co-chaired the case on behalf of a group of wrongful death claimants noted that the settlement agreements will give all defendants permanent peace. No one who receives a portion of the settlement funds will be allowed to bring subsequent lawsuits against any defendants or their insurers.
Conclusion
Building collapses such as the one that destroyed Champlain Towers South do not happen very often, but other construction defects and disasters can exact a heavy toll in terms of injury and death. Anyone who may be involved in such a catastrophe may benefit from consulting with an experienced construction attorney for an evaluation of the evidence and an opinion on the likelihood of recovering damages.
