VIDEO: The pool of funds intended to compensate victims of the collapse of the Champlain Towers South condominium will increase to more than $1 billion, attorneys Wednesday told the judge overseeing the resulting class action lawsuit.
Attorneys for the victims said all but one of the remaining defendants have settled the claims against them, and that company is expected to settle soon.
That increases the total recovery pool to $997 million, said Harley Tropin, one of the lead plaintiffs attorneys. That number doesn't include the minimum $120 million guaranteed opening bid in an auction of the oceanfront lot, now set for May 24.
Those who lost property will split $83 million of that, based on the size of their units. The rest of the funds, less some expenses, will go to the families of the 98 people who died in the June 24, 2021 collapse in Surfside.
