A class action will go ahead over property damage from the 2011 floods in south-east Queensland.
Maurice Blackburn says it has secured funding and will file the case early next year.
The law firm alleges extensive modelling shows the flooding was unnecessary, due to the negligent operation of Wivenhoe and Somerset dams.
Premier Campbell Newman says those seeking compensation should check the fine print.
"Everybody's entitled to mount a legal action in this country, that's what democracy and the legal system is all about," he said.
"I just say to them that I hope that they have got a very clear deal with the legal firm or legal firms involved.
"I'd hate to see any sort of payout to them, if that ultimately happened, being gobbled up in legal fees."
It is understood about 5,000 people have already signed up to the class action.
© ABC 2013
15:19 EST Editor's note: This story has been updated to clarify that the higher prices predicted by livestock agent Kevin Currie would be paid for dressed weight and not live weight bullocks, as was suggested in the original story.