Tentative $83M settlement reached in Surfside collapse

A class-action lawsuit filed on behalf of victims of the Surfside, Fla., condo collapse in June has led to a tentative $83 million settlement

The lawsuit, brought by victims affected by the Surfside building, was filed against companies that developed and maintained the Champlain Towers South building, ABC News first reported, citing court filings.

The lawsuit was also filed against the engineers and inspectors of the building.

On June 24, 55 of the building’s 136 units crumbled in the early morning hours, leading to 98 deaths. Court documents reportedly called the collapse was a “catastrophic failure.”

The settlement will establish an $83 million Common Fund paid out to unit owners proportionally based on their ownership share, as compensation for the belongings and units, according to ABC.

Unit owners will be relieved from liability for injury and wrongful death claims in exchange.

Victims will receive $50 million out of the first $100 million that is recovered from groups responsible for the building once the agreement is official, ABC noted. The other $33 million will be paid out of the money that’s recovered after that $100 million. All other funds recovered will “inure solely for the benefit of the wrongful death claimants,” the court filing reported read.

Defendants, including Morabito Consultants and Becker & Poliakoff, have continued to deny responsibility, but have praised the settlement.

Morabito said in a statement that it firmly believes “that the families who have suffered from this tragedy deserve compensation so that they may focus on healing,” with Becker & Poliakoff sharing similar sentiments. 

“We fully recognize that the losses suffered can never be fully compensated, but it is our sincere hope that this settlement helps to bring some closure to an incredibly painful chapter for all involved,” the firm said in a statement.

Updated: 3:20 p.m.