Fairfax Media has agreed to settle a defamation case brought against it by Wal King, the former chief executive of Leighton Holdings, who was accused in a series of articles of having an involvement in bribery and corruption in Iraq.
The Age, The Sydney Morning Herald and The Australian Financial Review carried an apology on Page 3 on Wednesday which read, “We now accept that any such allegations against Mr King are false. We unreservedly withdraw the allegations and apologise to Mr King”.
In the articles published during 2013, it was alleged Mr King had approved $42 million in ‘bribes’ in the form of kickbacks from a project involving Monaco-based Unaoil in Iraq.
Mr King denied any knowledge of corrupt practices.
Fairfax Media agreed to an undisclosed sum in settlement of Mr King’s claims for damages and costs.