MIAMI (CBSMiami) – Florida International University announced Wednesday that insurance money will go to settle claims in the 2018 bridge collapse which killed six people.

FIU said bankruptcy court has approved a plan that calls for $42 million dollars in insurance proceeds to go into a trust.

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That money will then go to settle claims by the surviving victims and to the families of those who were killed when a pedestrian bridge collapsed on 8th Street.

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The university’s made a statement, which read in part:

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“FIU made this 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 the victims and their families to maximize their recovery and expedite the process of getting compensation to them.”