Former residents of the Nova Scotia Home for Colored Children are celebrating a victory today, after being awarded a $5-million settlement with the orphanage.

The settlement will be spread among the 140 former residents who say they suffered years of sexual, physical and emotional abuse while living at the home.

“The reaction is mixed feelings,” says former resident Tony Smith. “Finally, it’s putting closure, dealing with one institution.”

The deal took more than a decade to work its way through the legal system.

“The significance of the settlement is restoration,” says lawyer Mike Dull. “Finally, after 10 years, these residents are being acknowledged by the home and they’re looking to move on.”

But some claimants say the settlement isn’t enough, saying they wanted more of an apology.

“We just felt the wording of it, how it was used, in no way shape or form took responsibility that they were at fault,” says Smith.

The court still has to approve the settlement. If it does, the funds will sit in a trust for a period of 12 months or less, if the province contributes to the settlement as well.

“The province has not come to the table,” says Dull. “They are the only defendant left in the case.”

A proposed class-action lawsuit against the Nova Scotia government will go to court in June to see if it will proceed.

“We want a public inquiry. We want restorative justice,” says Smith. “We want the healing process. We’re willing to work with the government to find out what took place, why it took place.”

For now, he says the settlement is being viewed as a symbolic win, rather than a financial victory.

With files from CTV Atlantic's Felicia Yap