The Terang bushfire class action settled for a payment of $17.5 million for 89 properties impacted and $5 million for 34 properties affected in Garvoc.

To date just under $15 million has been distributed to property owners, with around $4.5 million still to be allocated pending legal costs and insurance claims.

Adam Rowe, Tara-Lee Salau and their three young children live on a 40-acre hobby farm near Terang.

Their family home perished in the fire and caused significant damage to a tractor and haystack.

Mr Rowe said he and his family were very pleased with the outcome of the class action.

"We were very impressed with the whole process," he said. "It was really well organised and it helped us a lot.

"The process has definitely been worth it."

Maddens Lawyers principal Kathryn Emeny said the money distributed would compensate locals for the uninsured losses they suffered in the fire events.

"We have worked with thousands of bushfire victims; rarely do we encounter a fire victim who is fully insured for the total extent of their losses," she said.

"That's a reflection of the incredible extent of damage that major bushfire events cause."

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"The people impacted by the Terang and Garvoc bushfires are no different, collectively they suffered very substantial uninsured losses.

"Having witnessed the devastation and destruction these fires inflicted on our community we are very pleased to have been able to apply our team's extensive experience in successfully advancing claims for local farmers and community members to recover the compensation they deserve."

She said this round of compensation payments would result in many group members being compensated for 100 per cent of their uninsured losses.

"It's an outstanding result for those participating in the class action," Ms Emeny said.

"There's been some complexities and challenges associated with the position taken by some group member's insurers throughout the duration of the class action.

"That culminated in some insurers lodging a formal objection with the Supreme Court about the way in which compensation funds were intended to be distributed to group members.

"The Court ruled on that issue late last year and rejected the objection.

"There's really been two David and Goliath battles - one with Powercor and another with major insurance companies but the group members have come out on top."

Just this week lawyers for Powercor failed to get six charges thrown out that were laid after the devastating bushfires ripped through the south-west on St Patrick's Day in 2018.

Magistrate Kieran Gilligan handed down his ruling on Thursday after a complex special hearing that started in Warrnambool Magistrates Court earlier this week.