Sir Philip Green’s legal action against the Daily Telegraph has been formally ended by a High Court judge.
The Topshop boss had gagged the newspaper from publishing allegations of misconduct against five employees.
He had said he wanted to drop the case because it was “pointless” after he was named in Parliament as the businessman behind the injunction.
Sir Philip said he was pleased with the judgement, and said the Daily Telegraph had pursued a “vendetta” against him.
Sir Philip denies allegations he behaved wrongly.
The Telegraph said it intends to publish details of the allegations against Sir Philip and the “inside story” of the High Court action on its website at 9pm on Friday and in Saturday’s newspaper.
The newspaper has published an audio recording of Sir Philip threatening to “bankrupt” The Telegraph if it printed the allegations.
“I will personally sue your editor for damages that will be long beyond what he’ll be able to earn if he lives to 1,000 years old,” he said on the call.
‘Knowingly and shamefully’
In a ruling on Friday, Mr Justice Warby granted the Topshop owner permission to discontinue the proceedings.
The newspaper had intended to publish allegations of misconduct made against Sir Philip by the employees – who all received substantial payments after settling their claims in return for saying no more about them – under non-disclosure agreements (NDAs).
Sir Philip’s statement said the Telegraph had “knowingly and shamefully coaxed these [five] individuals to breach their obligations under these lawful agreements.
- What are non-disclosure agreements?
- Sir Philip Green: From ‘king of the High Street’ to ‘unacceptable face of capitalism’
Sir Philip said the court had recognised that the signatories to the NDAs had continuing obligations to honour them.
The paper says Sir Philip faces a legal bill of £3m, some of which includes the Daily Telegraph’s own costs.
The paper says the judge ordered the billionaire to pay the “bulk” of these.
How did this start?
Last August, the Daily Telegraph planned to run a story of allegations of misconduct made against Sir Philip by five employees.
Sir Philip approached the court to stop it naming him.
Initially, the court refused, but Sir Philip appealed and it did grant an injunction, saying there was a “real prospect” that publication would cause “substantial and possibly irreversible harm” to the claimants.
It then ran a story saying simply that a “leading businessman” was involved in a number of NDAs with former employees.
However, Sir Philip was named by Lord Hain in the House of Lords two days after the court’s ruling.
Who is Sir Philip Green?
Sir Philip used to be known as the king of the High Street.
He built a fortune from a retail empire that included Topshop, BHS, Burton and Miss Selfridge.
He sold BHS in March 2015 for £1, but it went into administration a year later, leaving a £571m hole in its pension fund.
He later agreed a £363m cash settlement with the Pensions Regulator to plug the gap.
In a report into the collapse of BHS, MPs called the episode “the unacceptable face of capitalism”.
He and his wife Cristina are estimated by Forbes to be worth £3.8bn.
If you enjoyed our content, we'd really appreciate some "love" with a share or two.
And ... Don't forget to have fun!