Former Conservative Defence Secretary Liam Fox has settled a libel dispute.
The MP previously launched litigation against Harvey Boulter, a Dubai-based businessman, who made incorrect comments to Sky News during the Adam Werritty scandal.
Mr Fox was sacked by the government after it emerged he allowed Mr Werritty, a close friend, on a number of business trips, where he posed as an advisor - something critics claimed compromised national security.
But as the revelations unfolded, Mr Boulter alleged that Mr Fox acted "reprehensibly and dishonourably" by not telling the truth about what happened at a business meeting at a five-star hotel in Dubai, according to Arabian Business.
In an interview with Sky News, Mr Boulter said he was planning on "calling Dr Liam Fox and his pal Adam Werritty to give evidence in some of these ongoing legal disputes so they can tell the truth and so we can debunk these baseless allegations against me".
However, Mr Boulter has now issued an unreserved apology for his conduct and has withdrawn allegations about corruption levelled at the Scottish Conservative.
Outside of London High Court, Mr Fox claimed to have been vindicated and that he had known all along his name would be cleared.
"I've always said that I told the truth and behaved ethically in the matters relating to this court case," he added .
There is no word about whether this libel action will help Mr Fox return to the cabinet, although this appears unlikely as the MP has now taken a position as a Eurosceptic opponent on the Conservative party backbenches.
This has made him unpopular with the organisation's upper-echelons who had tried to get him to tow the party line in regards to defence cuts.
Reports from the Guardian indicate Mr Fox will likely receive a "significant" sum in return for the settlement - something that will be paid by Mr Boulter's legal insurance.