Judge Approves More Than A Billion Dollar Surfside Collapse Settlement

Just hours before family members of the 98 people killed in the Champlain Towers South collapse gather in Surfside to mark the one-year anniversary of the tragedy, a massive deal is finalized.

"I could not be more proud to unhesitatingly approve this settlement as being fair, adequate and reasonable, and in fact being remarkable," says Judge Michael Hanzman.

He admits, while being about $1.2-billion, nothing can compensate family members for their loses. "There's nothing that we can do in the civil justice system to make the right."

Family members of those who died, including Eileen Rosenberg, are grateful, "Words can not capture and convey what your honor accomplished in record time.

Raysa Rodriguez says, "I just want this to be done. I want these souls to just rest."

There were no opt outs or objections, which avoids years of litigation.

All parties plan to return to court next month to begin determining how much each family will receive.

Surviving owners will also receive the full appraised value of their units.

The site has been sold to a developer for $120-million.

Family members of the Surfside victims and invited guests will gather overnight at 1:22 a.m. which is the exact time of the tragedy.

A public remembrance event will take place at 10:00 a.m. tomorrow.

First Lady Dr. Jill Biden and FEMA Administrator Deanne Criswell are expected to participate.

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