A libel action by businessman Dermot Desmond over an article published in Magill magazine 12 years ago was settled at the High Court today.
Mr Desmond had sued Coliemore Publications Ltd; Vincent Browne, then editor of Magill, and journalist Ursula Halligan, author of the article, which was published in January 1998.
Under the settlement, an apology was read to the court which was also told Mr Browne is to make a contribution to a charity nominated by Mr Desmond.
Mr Justice Eamon De Valera struck out the proceedings on that basis.
In the apology, read by Declan Doyle, counsel for the defendants, it was stated: "Insofar as the article concerned gives rise to the inference or innuendo that Dermot Desmond and/or NCB were the beneficiaries of contracts awarded to NCB by the State as a direct result of, or in consideration, alleged payments made by Dermot Desmond to Charles J. Haughey, this is regretted by Vincent Browne."
It added: "Vincent Browne accepts the contracts awarded by the State to NCB were awarded on merit and that the offending statements in the article will not be repeated now or at any time in the future."