The Spectator magazine has apologised to Irish businessman Paddy McKillen because its columnist, Taki, wrongly referred to him as "front man" for the Qataris over his investment in Claridges hotel.
The magazine said in a statement read to the high court in Dublin that Taki had "incorrectly assumed" that McKillen's investment was being financed with Qatari funding.
It accepted that it was wrong to describe McKillen in such terms and agreed to withdraw "corresponding criticism of Mr McKillen". It also apologised to him for the error by Taki Theodoracopulos.
McKillen's lawyer, Paul Tweed, said afterwards that his client has been "totally vindicated by this comprehensive and categoric retraction". He would not hesitate to take appropriate legal action in order to protect his reputation.
McKillen has been involved since March 2012 in a legal dispute with the owners of The Spectator, Sirs David and Frederick Barclay, over the ownership of the Maybourne Hotel Group, which owns Claridges, The Connaught and The Berkeley.
McKillen owns a 36% stake in Maybourne. The Barclay brothers have held a minority stake in the group since 2011.
