Australian building product group James Hardie has agreed a preliminary deal to pay £568m to asbestos victims.
Employees of the company with asbestos related diseases have been fighting for the compensation since it said it was running out of money to pay the claims.
In September an independent inquiry found that the company did set aside enough funds, and it had deliberately misled the public over the money pot.
Its chief executive Peter MacDonald resigned over the matter and is currently under investigation from Australia's securities watchdog.
The new deal still needs approval from Hardie shareholders but has already been welcomed by those who have been campaign for compensation.
