Champlain Towers South Condo Association, which has been under intense public and legal scrutiny for its handlings of repairs prior to the deadly building collapse last month, has now agreed to turn over financial decision-making to a court-appointed receiver.On Friday, a lawyer representing the board made the announcement at a court hearing. Miami-Dade Circuit Judge Michael Hanzman appoints attorney Michael Goldberg the receiver. Goldberg was immediately authorized by the judge to give condo owners $10,000 in insurance money to help them find new homes after the collapse. Family members who need to pay the funeral costs of their loved ones who have died in the collapse can also receive up to $2,000 from the judge.Lawyers at Friday's hearing stated that insurance companies covering the condo building have already agreed on $3 million in insurance money. The building was covered by insurance policies worth at least $48 millions.A receiver is usually an attorney who has been appointed by the court as an expert in financial matters. Goldberg is well-known within South Florida's legal community and has been appointed receiver in many high-profile cases in order to recover money from Ponzi scheme victims.Hanzman stated to Goldberg that you are the most experienced and preeminent receiver in this community during Friday's hearing.At least five lawsuits have been filed against Condo Association for June 24th collapse, which claimed at least 18 lives and left 145 others missing. Surfside continues to be the focus of a massive rescue operation, despite possible building collapses and even a hurricane.The class-action lawsuit will consolidate the claims. Hanzman had asked the board to name a receiver to oversee property and money. Hanzman stated that the court must believe that those who lived in the condo and were on the board were extremely traumatized, and that they don't want to be inspecting insurance policies.Continue the storyThe plaintiffs' lawyers had also questioned the board's ability to manage financial decisions, pointing out that it had hired a crisis public relation firm after the collapse.The condo association stated in a statement that it had agreed to the receiver in all the best interests of the parties.Champlain Towers South's collapse is a terrible tragedy that has ravaged our community, our neighbours, and our friends. We are deeply grieving for the families of those who were lost. The statement stated that they have our deepest condolences. We understand that the answers to this tragedy will take time. As part of an extensive investigation, we will continue to work closely with federal, state, and local officials.Paul Singerman, the association attorney, stated that one board member was still missing. The rest of the members met on Thursday. Singerman stated that the board unanimously approved Michael Goldberg's appointment as courts receiver.Hanzman applauded the board's decision. The courts can see that the individuals who owned units and were on the board were in a very difficult and stressful time. I commend them all for their wisdom and insight in realizing it was time to leave, he stated.He also stated that he would like the case to move quickly, and to be concluded within one year. He stated that he would hold weekly hearings.Hanzman stated that he was not going to let this case drag out.
