Judge Raises Payout To Unit Owners Amid $1B Surfside Deal
By Carolina Bolado (May 24, 2022, 1:26 PM EDT) -- The Florida state court judge overseeing consolidated litigation over the collapse of the Champlain Towers South condominium in Surfside agreed Tuesday to increase the payouts to unit owners now that a recently announced $1 billion settlement will provide a better recovery for victims than initially expected.
Eleventh Judicial Circuit Judge Michael Hanzman in Miami agreed at a hearing to increase the recovery for unit owners from the $83 million hammered out in an allocation settlement in March to $96 million, the amount an appraiser determined the building was worth the day before the June 24, 2021, collapse that killed 98 people....
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