Less than 14 months after a devastating apartment building fire in Conshohocken, Pa., left scores of residents homeless, lawyers unveiled a global settlement worth more than $36 million that will resolve all property damage and insurance claims.
About $27 million will go toward rebuilding the two Riverwalk towers, a project now nearing completion and set to reopen in November. The remaining $9 million must be approved by a Montgomery County judge and will reimburse a class of tenants for their lost property as well as satisfying insurers’ subrogation claims for payments already made to tenants who had insurance.
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