Fine Gael Minister Lucinda Creighton has apologised to Cork property developer Michael O"Flynn as part of a settlement of his High Court defamation action against her.

The 55-year-old father of 4 sued the Junior Minister over a speech she gave to the McGill Summer School and over comments she made in subsequent media interviews in July 2010 on standards in public life.

Leaving court Michael O"Flynn said he was very happy that the damage caused to his good name by the very public comments in a speech at Glenties by Lucinda Creighton and in subsequent interviews with RTÉ and The Irish Times had been recognised in these court proceedings.

"Want to move on"

The jury heard the now Junior Minister had referred to the attendance by the  developer at a Fine Gael fundraiser in The K Club while giving out about "cute hoor" politics and low standards in public life.

In a statement read to the court as part of the settlement Miss Creighton said she is happy to confirm Mr. O"Flynn is an upstanding developer who has not done any wrong.

She apologised to him and his family for any hurt and distress caused by her comments and has agreed to contribute towards his legal costs.

Mr. Justice Eamon de Velera discharged the jury telling them it was always better cases like this are compromised rather than going to a bitter end.

Both parties spoke outside court.