Florida condo collapse settlement reached, tops $1 billion
The agreement to end litigation over the Champlain Towers South tragedy awaits approval by Circuit Judge Michael Hanzman, but that should just be a formality. Additionally, nearly $100 million will be split by those who lost their property in the collapse. The National Institute of Standards and Technology is investigating the cause of the collapse, a process expected to take years. Champlain 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. The Champlain Towers South was 40 years old and its condominium association had been struggling with compliance at the time of the collapse.
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