Builder of collapsed FIU bridge reaches deal to pay $42M to victims, families
Source: https://www.roadsbridges.com, May 3, 2019
Magnum Construction Management, which filed for bankruptcy back in March, agreed with insurance companies on the settlement deal
The construction company that built the Florida International University (FIU) pedestrian bridge, which collapsed in March 2018 and killed six people while injuring another eight, has reached a deal with insurers to pay up to $42 million to the victims and their families, according to a Miami Herald report.
Magnum Construction Management (MCM), formerly known as Munilla Construction Management, agreed with insurance companies on the settlement deal, which helps move forward the process of resolving the dispute with the families of the victims who were killed along with the injured survivors.
It was first reported that the families and victims of the collapse were filing a lawsuit against the companies involved with the FIU bridge work back in April 2018. This new settlement agreement, which was filed in federal bankruptcy court on April 30 of this year, must be approved by a judge. MCM filed for bankruptcy back in March of 2019.
This deal comes as all parties await a final verdict from the National Transportation Safety Board (NTSB) investigation as to the cause of the bridge collapse. A preliminary report from the NTSB released in August showed that cracking which appeared on the FIU structure days before it collapsed was more extensive than previously disclosed. In addition, an investigative update in November from the agency revealed that significant errors were made in the design of the bridge.
According to the Herald’s report, there are currently more than 20 other defendants in the middle of their own lawsuits filed by victims and their families which have yet to reach any agreement.