Emerging Deal Would Split $83M for Condo Collapse Losses
"We believe this resolution takes into account interests for all sides," said attorney Judd Rosen, who represents the wrongful death plaintiffs.
February 14, 2022 at 12:18 PM
3 minute read
LitigationA tentative deal announced Friday would pay $83 million to people who suffered economic losses such as condominium units and personal property in the collapse of a Florida building that killed 98 people.
The emerging agreement, yet to be formally reduced to writing, would set aside whatever amount above the property settlement figure for those who lost loved ones in the collapse of the 12-story Champlain Towers South condominium in Surfside, Florida.
The proposal was unveiled at a hearing Friday before Miami-Dade Circuit Judge Michael Hanzman, who is presiding over lawsuits stemming from the June 24 collapse.
"That is promising news. We'll see how it plays out," said Hanzman, who must approve a deal and said he would hear any objections before deciding. "There's a strong possibility we're going to avoid any drawn-out legal battle."
A written agreement will be ready to file in court by next Thursday, said attorneys involved in the negotiations overseen by mediator Bruce Greer.
The main lawsuit, filed on behalf of Champlain Towers South victims and family members, contends that work on the adjacent Eighty Seven Park tower damaged and destabilized a building in dire need of major structural repair.
Champlain Towers was in the midst of its 40-year structural review when it collapsed without warning, burying victims under tons of rubble and almost instantly destroying dozens of condo homes. That has triggered multiple federal and state investigations and a flurry of lawsuits by victims, families and condo owners.
A key question from the beginning was how to allocate money from the property's sale, insurance proceeds and damages from lawsuits between wrongful death cases and those with only property claims.
Gonzalo Dorta, who represents the property owners group, said the agreement means those who accept part of the $83 million will be finished with the case and won't be subjected to a possible assessment that state law allows for condo associations to cover legal and other costs.
"They will be free from that exposure," Dorta said.
It wasn't immediately clear how many people are in each camp. There were 136 units in Champlain Towers South and the 98 deaths. Some units were rented from out-of-town owners. Some owners also are part of the wrongful death aspect of the case.
"We believe this resolution takes into account interests for all sides," said attorney Judd Rosen, who represents the wrongful death plaintiffs.
Still, this tentative agreement would represent only part of the case. The lawsuit claiming damages for wrongful death will move forward, with potential collections including $120 million or more from the property sale and perhaps $30 million in estimated insurance proceeds.
An auction sale of the property is currently planned for late April, court-appointed receiver Michael Goldberg said.
The lead investigating agency is the National Institute for Standards and Technology, which recently estimated its probe could take as long as two years.
Much of the recent work has involved preparing the beachside site to collect evidence through soil borings and other methods about what caused the collapse. There is also a Feb. 21 walk-through planned for experts to examine evidence stored in warehouses.
"We're really just pleased with how that's going," Goldberg said.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllFlorida Supreme Court Clarifies Qualifications for Court-Appointed Arbitrators
3 minute read$5.5M Miami Verdict: Meet the Lawyers Behind the Slip-and-Fall Suit
US Bankruptcy Filings Rise 16.2% as Interest Rates, Inflation, and End of COVID Relief Hit Hard
3 minute readTrending Stories
- 1Trump's SEC Overhaul: What It Means for Big Law Capital Markets, Crypto Work
- 2Armstrong Teasdale's London Creditors Face Big Losses
- 3Texas Court Invalidates SEC’s Dealer Rule, Siding with Crypto Advocates
- 4Quinn Emanuel Has Thrived in China. Will Trump Help Boost Its Fortunes?
- 5Manufacturer Must Provide Details Surrounding Expert’s Livestreamed Inspection, Fed Court Rules
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250