A judge approved a $1 billion settlement for victims of the surfside condo collapse (Picture: Getty Images)

A judge approved a settlement worth more than $1 billion for those affected by a Florida beachfront condominium that killed 98 when it collapsed nearly a year ago to date.

About $1.02 billion of the settlement will be divided among the surviving families, those injured and 136 condo owners.

A day before the one-year anniversary of the collapse of the Champlain Towers South in the Miami suburb of Surfside, Judge Michael Heinzmann ruled on the case.

“It will never be enough to make up for the tragic loss caused to them,” the judge said. ‘This agreement is the best we can do. This is a remarkable result. This is extraordinary.’

The judge praised the dozens of lawyers involved in the case for doing what could have been done to avoid years of litigation with no definite outcome.

While most of the settlement would go to those who lost family members in the disaster, about $100 million was set aside for legal fees as well as $96 million for condo owners.

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