Fairfax Media apologises unreservedly to Wal King

Fairfax will unreservedly apologise to Wal King for alleging his involvement in bribery and corruption activities.

Mr King launched defamation proceedings against Fairfax and denied any knowledge of corrupt practices.

Fairfax Media has agreed to unreservedly apologise to Wal King, after settling a potential multi-million dollar defamation action launched by the former long-serving chief executive of Leighton Holdings over a series of articles alleging his involvement in bribery and corruption activities in Iraq while he was CEO.

Reports in The Age, The Sydney Morning Herald and The Australian Financial Review in late 2013 implicated the former Leighton boss through a note allegedly written by then Leighton Holdings acting chief executive David Stewart in ­November 2010.

It alleged Leighton International chief executive David Savage had told him Mr King had approved $42 million in kickbacks to Monaco-based Unaoil on a project in Iraq.

Mr King launched defamation proceedings against Fairfax and denied any knowledge of corrupt practices and claimed the publisher had not produced any evidence that would stand up in court.

Fairfax has now agreed to publish an apology to Mr King, noting the publisher accepts the allegations are “false’’. It will also pay an undisclosed sum to settle his claims for damages and costs.