Contractor On Failed Miami Bridge Has Ch. 11 Plan Confirmed
By Carolina Bolado (December 12, 2019, 7:50 PM EST) -- A Miami construction company forced into Chapter 11 by the March 2018 collapse of a Miami pedestrian bridge will exit bankruptcy with a reorganization plan approved Thursday that includes $103 million for victims who were injured in the accident.
In a hearing in Miami, U.S. Bankruptcy Judge A. Jay Cristol approved the confirmation plan for Magnum Construction Management LLC that resolves all bodily injury and property damage claims against the company, according to the company's attorney Jordi Guso of Berger Singerman LLP.
The centerpiece of the plan is a $103 million trust for those who were injured or killed March 15, 2018,...
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