The Surfside building partially collapsed in South Florida last June. Ninety-eight people were killed in the collapse when the South Tower suffered a "catastrophic failure" While 55 condominium units were immediately destroyed, the remainder of the building, which had 136 units, had to be demolished.

The remaining $33 million of the settlement will be paid out of the money that's first recovered after that $100 million. "All other funds recovered will inure solely for the benefit of the wrongful death claimants," according to a court filing. Morabito Consultants, one of the defendants in the lawsuit, said it “denies that it is, in any way, liable for the collapse or the resulting damages”

The court will hold a final approval hearing for the agreement on March 30. Any objections to the agreement must be submitted to the court by March 23. "We are pleased this matter was quickly resolved and sincerely hope the insurance settlement will bring some relief to those impacted by this terrible tragedy," the family said.
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