The collapse last year of the Florida International University pedestrian bridge cost the university more than just a piece of its reputation: it says it has suffered $15.2 million in damages. And it was seeking in bankruptcy court to collect up to $5 million of that amount from an insurance policy held by its general contractor, Munilla Construction Management. But Wednesday the university announced in court it would relinquish any claim to that money, as long as all $5 million went to the pool of funds set aside for the victims of the collapse — the six who died and more than a dozen others who claim injuries, NBCMiami.com reported. In a statement, FIU said it made the decision "out of respect for the victims of the bridge collapse and their families. We believe this is the right course of action, because it will allow (them) to maximize their recovery and expedite the process of getting compensation to them." That means $42 million will now be available for the victims as part of MCM's liability for its role in the collapse. MCM, now called Magnum Construction Management, filed for Chapter 11 bankruptcy protection in March, seeking to reorganize. It reported assets of just under $100 million, but 243 claims have been filed in the bankruptcy case totaling more than $287 million — and that amount does not include many claims for which no amount has been specified.
