Mr Justice Moorland was told at London's High Court that Langley was one of the founders of Langley & Partners, which in March this year won the City of LondonBusiness News Insolvency Practitioner of the Year Award.
However his counsel, Ben Hinchliff, told the judge that in July thisyear Mr Langley was contacted by two colleagues who said they had heard hehad been arrested. He then discovered that the story had come from anotherinsolvency practitioner, David Solomons.
The judge was told that Solomons had now apologised for this,retracted the allegation and was to pay 'suitable' undisclosed damages andMr Langley's legal costs.
Counsel for Solomons told the judge that that he had neitherintended nor believed that his comments would be repeated.
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