A Florida judge said the survivors and victims’ families in the condo building collapse will get a minimum of $150 million in compensation initially – which includes insurance on the tower and expected proceeds from a sale of the empty property.
“The court’s concern has always been the victims here,” Miami-Dade Circuit Judge Michael Hanzman said at a hearing Wednesday, adding that the group includes visitors and renters, not just condo owners. “Their rights will be protected.”
The $150 million figure includes about $50 million in insurance on the Champlain Towers South building and at least $100 million in proceeds from the sale of the property where the tower once stood.
That compensation does not count any proceeds from the bevy of lawsuits already filed since the June 24 collapse, which killed at least 97 people. Those suits are being consolidated into a single class action that would cover all victims and family members if they choose, Hanzman said.