FILE - In this June 25, 2021, file photo, rescue personnel work at the remains of the Champlain Towers South condo building in Surfside, Fla. A judge says a mediator will be named to sort through claims arising from the collapse of a Florida condominium that killed 98 people. Miami-Dade Circuit Judge Michael Hanzman said at a hearing Wednesday, Oct. 6, 2021 that he is hoping to avoid a bitter and lengthy battle over money by victims. Photo: Gerald Herbert/AP On May 4, 2022, the court approved a sale and purchase agreement/bidding and sales procedure for the Surfside, Florida, property. The bidding deadline is May 20, 2022, and if an auction is required it will be held on May 24, according to court documents. (Credit: Gerald Herbert/AP)

Ahead of the one-year anniversary of the Champlain Tower collapse in Surfside, Florida, a tentative settlement agreement of $997 million has been reached in the class action lawsuit brought by families of victims and survivors of the condominium collapse. The settlement, if approved, involves insurance companies, developers of adjacent properties and other defendants, the Associated Press reported.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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