Perry Christie, who took his Progressive Liberal Party to power in May 2002, had brought High Court proceedings over a September 2003 article in the Caribbean edition of Latin American Monitor.
His solicitor, Michael Skrein, told Mr Justice Eady in London that the false suggestion was simply untrue and without any foundation, and was extremely upsetting for Mr Christie, who prided himself on having a reputation for integrity.
He said that publisher Business Monitor International Ltd, editor Eileen Gavin and author Catherine Thompson accepted unequivocally that the allegations were untrue and that it was wrong to publish such a damning article.
They were quick to agree to apologise for the hurt and distress caused and had agreed to pay Mr Christie compensation and his legal costs.
By Jan Colley, PA News, From The Scotsman
