A London judge has approved a compensation scheme for Jimmy Savile's abuse victims after the late British Tv presenter was outed as a serial paedophile following his death in 2011.

The Dj and Tv personality's estate executors struck the deal with lawyers for more than 140 people who claim to have been molested by Savile during his decades-long career, and Mr. Justice Sales signed off on the plan during a High Court hearing on Wednesday (26Feb14).

The ruling occurred after the judge rejected a request by one of Savile's estate beneficiaries to replace NatWest Bank bosses as executors, claiming they were unhappy with their performance and concerned about issues with the compensation agreement.

Liz Dux, a representative for law firm Slater & Gordon, says, "This is a great result for the victims of Jimmy Savile.

"The ratification of the scheme should allow the quickest possible closure to this horrific affair for those who were abused.

"Today there is a definite light at the end of this very dark tunnel and that is reason for the victims to take heart."

The scheme approval does not guarantee pay outs for all claimants, but is instead aimed at providing a framework for the claims to be analysed.

Savile's estate is reportedly worth an estimated $6.4 million (£4 million).

Savile was a beloved figure in the U.K. for his 50-year broadcasting career and wide-ranging charity work, but an inquiry into abuse allegations after his death ruled he had molested 450 victims, including 30 children, throughout the years.