Victorian Businesses Receive $125m Compensation for Covid Lockdown Losses

Businesses affected by one of the world's longest Covid-19 lockdowns in Victoria are set to receive $125m in compensation after a class action settlement was reached. The settlement comes after retailers argued that the state government should pay them for economic losses resulting from the pandemic lockdown. The Victorian government confirmed the agreement, stating that it continues to stand by the steps taken during the pandemic to keep Victorians safe.

A class action was brought in the supreme court on behalf of businesses affected financially by Victoria's 2020 lockdowns. The matter had been listed for trial, but it was adjourned to a directions hearing after the parties reached a settlement. The terms of the settlement are confidential, but the amount of $125m includes costs and interest.

The Victorian government stated that the settlement will avoid further protracted legal proceedings. The class action's law firm, Quinn Emanuel Urquhart & Sullivan, said the settlement concluded 'years of hard-fought litigation' by affected businesses.

The $125m settlement is a significant outcome for eligible businesses, which suffered greatly during the lockdown period. The settlement provides recognition of the hardship faced by these businesses and is hoped to provide some measure of relief.