Florida deadly condo collapse leads to $1 billion settlement

A judge gave final approval Thursday to a settlement topping $1 billion for victims of the collapse of a Florida beachfront condominium building that killed 98 people, one of the deadliest building failures in U.S. history.
The decision by Miami-Dade Circuit Judge Michael Hanzman came a day before the one-year anniversary of the Champlain Towers South disaster in the Miami suburb of Surfside.
"It will never be enough to compensate them for the tragic loss they have suffered," the judge said.
Attorneys said another $200 million is available from the Champlain Towers condo association itself, including insurance.
No victims filed objections to the settlement or decided to opt out, said court-appointed receiver Michael Goldberg.
Raysa Rodriguez, who survived the collapse in a ninth-floor unit that was initially left intact, had nothing but praise for the outcome.
FLORIDA CONDO COLLAPSE: ANONYMOUS BIDDER OFFERS $120M TO BUY SITEThe money comes from 37 different sources, including insurance companies, engineering firms and a luxury condominium whose recent construction next door is suspected of contributing to structural damage of Champlain Towers South.
A billionaire developer from Dubai is set to purchase the 1.8-acre (1-hectare) beachside site for $120 million, contributing to the settlement.
Champlain Towers South had a long history of maintenance problems and questions have been raised about the quality of its original construction and inspections in the early 1980s.
MIAMI CONDO BUILDING: TALES OF RESCUE AFTER FALLING SEVERAL FALLS IN FLORIDA BUILDING COLLAPSEFlorida will require statewide recertification of condominiums more than three stories tall under new legislation Republican Gov.
The death toll in the Champlain Towers collapse ranks among the highest in U.S. history among similar disasters.
The 1981 Hyatt Regency walkway collapse killed 114 people and a Massachusetts mill disaster in 1860 killed between 88 and 145 workers.