After six years the Victorian Supreme Court approved a $32 million compensation package yesterday for 500 businesses affected by an explosion at the Longford gas plant in 1998 which left the state without gas for two weeks.

Uninsured businesses will be able to claim from the $32 million pool while insurers will also be able to recoup payments already made to policyholders from the scheme.

Claims of more than $5000 must be approved by a loss assessor but claims less than $5000 will be paid if proof of the property damage is made in a statutory declaration.

Esso Australia Chairman Mark Nolan said the settlement “resolves the remaining claims for physical damage and brings to an end the class action proceedings. Under the agreement all parties have waived their rights to appeal the 2003 decision.”