Almost eight years after Black Saturday bushfires devastated Victoria, its victims will receive a share of almost $700 million in compensation - just in time for Christmas.
Settlements to victims of the Kilmore East-Kinglake and Murrindindi fires in 2009 were approved by Victorian Supreme Court Justices John Dixon and Jack Forrest on Wednesday.
The decision brings the end to Australia's biggest class actions.
Personal injury claimants are expected to receive their share before Christmas, while those who suffered economic loss or property damage will be paid in early 2017.
The catastrophic fires on February 7, 2009, claimed 119 lives in the Kilmore East-Kinglake area, more than 1000 suffered serious injuries and more than 1700 homes and properties were destroyed or seriously damaged.
In the Murrindindi fire, which almost completely destroyed the township of Marysville, 40 people died.
The Kilmore East-Kinglake class action settled for $495 million in late 2014 while the Murrindindi case was settled in early 2015 for $300 million.
At the time, lead plaintiff Dr Katherine Rowe said it was a "great relief" the proceedings were over despite Ausnet maintaining the company was not to blame for the fires.
"It (approval of settlement) does not remove any suggestion that the loss of loved ones, property and a beautiful town was a product of arson," Dr Rowe told reporters in May.
"People can now get on with rebuilding."
Litigation expenses and costs associated with the administration of the settlements chewed up almost $100 million leaving the claimants to share $698.5 million.
"This has been an unprecedented settlement administration in tort class action," Justice Forrest said in a statement on Wednesday.
Each claim for damages had to be individually assessed.
If the two class actions hadn't been settled the court would have needed to determine thousands of claims, a process that may have taken years, Justice Forrest added.
The survivors sued electricity provider SP AusNet, Utility Services Corporation Limited and the Department of Sustainability and Environment.
They alleged power lines weren't properly maintained and the department failed to reduce fuel loads.
Despite the settlement, Ausnet Services maintains it wasn't to blame for the fire that resulted in the deaths of 40 people in the Murrindindi fire or more than 170 people across the state.
There is the possibility of extra funds being released to all victims depending on the outcome of legal action between the fund's administrators and the Australian Taxation Office.