Survivors of the Murrindindi-Marysville bushfire in 2009 have agreed to a $300 million settlement on the eve of a class action in the Victorian Supreme Court. 

Power company AusNet Services (formerly SP AusNet), maintenance contractor Utility Services Corporation (USC) and the Victorian Government settled on Friday.

The action alleged negligence by AusNet for failing to maintain faulty electrical infrastructure before the Black Saturday bushfires of February 2009. The fires claimed 173 lives.

In a statement to the Australian Securities Exchange, AusNet says it makes no admission of liability and maintains there was no negligence on its part that “caused, or contributed to, the Murrindindi bushfire, nor any of the other Black Saturday fires”.

Under the settlement – which is subject to court approval – AusNet will pay $260.9 million, USC $10 million and the Victorian government $29.1 million.

AusNet’s liability insurers will pay all its contribution and its costs.

The power company has been a defendant in three class actions arising from the Black Saturday fires. 

Its previous settlements were $494.6 million to the survivors of the Kilmore East and Kinglake blazes and $8.8 million for victims of the Beechworth blaze.

“The total losses suffered, and costs incurred, by those affected by the Murrindindi bushfire have not yet been finalised,” the AusNet statement says. “It is estimated that the contribution agreed to be made by AusNet Services through its insurers is about half such total losses and costs.”

The Murrindindi-Marysville class action was led by law firm Maurice Blackburn.

With this latest settlement the class action specialist has secured almost $800 million in compensation for bushfire survivors.