A landmark out-of-court settlement has been reached in the multi-million-dollar class action over Sydney’s defect-riddled Opal Tower, one of Australia’s most significant property lawsuits. 

The News South Wales Supreme Court was informed of the last-minute agreement on Thursday. 

Subject to the court’s approval, the settlement averts a hearing initially scheduled to begin on May 2 and set down for a marathon 40 days but delayed.