Judge orders $150M initial compensation to condo collapse victims

WHAT YOU NEED TO KNOW:

• The victims and bereaved families of the Florida condo collapse will be receiving an initial compensation of $150 million.
• Miami-Dade Circuit Judge Michael Hanzman authorized the expedition of the lawsuits as well as fast-tracking the payments.
• The judge noted that the compensation will not only go to condominium owners but also to renters and visitors of the property.

Miami-Dade Circuit Judge Michael Hanzman ordered an initial compensation of $150 million for the victims and families of the Florida condo collapse that killed nearly 100 people on June 24.

The amount would include $50 million in insurance money and at least $100 million from the sale of the site of Champlain Towers South, Hanzman said on Wednesday’s hearing.

The judge declared, “The court’s concern has always been the victims here. Their rights will be protected.”

Hanzman noted that the victims to be compensated include not just condominium owners but also renters and visitors to the property.

Several lawsuits were filed after the condo collapse that left at least 97 people dead and others unaccounted for. Hanzman has authorized the expedition of those suits as well as fast-tracking the payments.

The judge also said on Wednesday that the lawsuits would be consolidated into a class-action suit, from which the $150 million in compensation would be drawn.

The condo collapse site has been nearly cleared of rubble. The debris is temporarily stored in a warehouse and vacant lots, where it will be used as evidence in lawsuits and investigations.

The exact cause of the collapse is yet to be determined, but there have been concerns about possible structural damage to the 40-year-old condominium building. Hanzman also heard court arguments regarding the site’s future.

Some unit owners want to rebuild the site while others advocated for a memorial. Others wanted a combination of both.

According to Hanzman, residents and owners will not be expected to donate the land should they choose to build a memorial. Instead, they will be compensated at fair market value.

The judge reiterated the importance of speedy compensation, saying, “This is not a case where we have time to let grass grow underneath it.”

Source: USA Today