Belfast solicitor Paul Tweed acted for First Minister Peter Robinson in a successful libel claim against Private Eye, which reported that Mr Robinson had been blocked from the House of Lords.

The satirical news magazine ran an article citing an anonymous source who said the House of Lords Appointments Commission (HoLAC) had vetoed a nomination for a Democratic Unionist Party (DUP) politician, which the magazine suggested was Mr Robinson.

The DUP repudiated the report at the time.

Mr Tweed of Johnsons Solicitors said: “Pressdram, the owners of Private Eye, have now published a comprehensive retraction and apology which, together with the payment of a significant sum in damages and costs, has totally vindicated my client’s position in relation to what were totally unfounded allegations.”

The magazine’s retraction reads: “Any suggestion that HoLAC had regarded Mr Robinson as unsuitable for appointment because of ‘allegations of financial scandal’ would be incorrect.

“We are happy to accept that this is the case and to make the position clear. We apologise to Mr Robinson.”