[SYDNEY] Survivors of one of Australia's deadliest wildfires won compensation of nearly A$500 million (S$583 million on Monday - the biggest class action settlement in Australian legal history.

The Kilmore East- Kinglake bushfire in February 2009 claimed 119 lives, destroyed 1,200 homes and caused an estimated A$1 billion worth of damage. It was part of a series of blazes across Victoria state, which became known as Black Saturday and killed 173 people.

Under the settlement of about A$494 million reached with the defendants after a 16-month trial in the Victoria Supreme Court, energy company SP AusNet will pay the bulk of the compensation - A$378.6 million. SP AusNet's liability insurers will pay for the energy firm's contribution.