Both the public gallery and the court were full with MPs and lawyers from other

Both the public gallery and the court were full, with MPs and lawyers from other cases crowding in.
Mr Carman and Mr Hamilton clashed at the very start of the cross-examination. The politician accused the barrister of telling the jury “half-truths” about him in his opening statements. ”
Mr Carman interjected: “When was Mr Mandelson criticised by a select committee, or threatened with suspension from the House?”
After a slight hesitation, Mr Hamilton said: “I am happy to exclude from any damages that I would be a front-bench spokesman.”
Mr Carman pounced: “Are you withdrawing that?”
Mr Hamilton replied: “Yes, I am quite happy to abandon that specific point.”
Mr Hamilton, 50, was giving evidence on the 15th day of his libel action against Mr Fayed over allegations that he accepted cash, gifts and free holidays, including one at the Paris Ritz hotel, for asking questions favourable to the Harrods owner in the Commons.
Mr Fayed turned up in the afternoon to hear his lawyer grill Mr Hamilton. Even evoking the name of Peter Mandelson did not help Mr Hamilton.
The former Tory minister had told the jury that he was a “very popular” member of John Major’s government, his political career was destined for the top and he would probably have been a member of William Hague’s shadow cabinet, if not for Mr Fayed’s “lies” about cash for questions.
Beginning his cross-examination, Mr Carman described the strong criticism of Mr Hamilton by a House of Commons select committee, which found that he had “fallen seriously and constantly below the standard expected of an MP”.
Mr Carman then asked Mr Hamilton: “Are you seriously saying to the jury, ‘Award me damages for the loss of my career prospects, which include the possibility that I’d be serving in the shadow cabinet or as a front-bench spokesman now,’ in the light of the fact that the select committee found in 1997 that if you were a serving member you’d have deserved a substantial period of suspension?”
Mr Hamilton responded: “Well, Mr Mandelson is back in the Cabinet …

It came late in the day, but those present were taken aback by the speed with which the barrister closed in. Neil Hamilton dropped one of his main claims for damages against Mohamed Al Fayed yesterday after just 22 minutes of cross-examination by George Carman QC.

The High Court had long been awaiting the questioning of the former MP for Tatton, Cheshire, by the counsel for the owner of Harrods, the formidable Mr Carman. With this statement, The Times intends to draw a line under ‘The Ashcroft Affair’.”. Neil Hamilton dropped one of his main claims for damages against Mohamed Al Fayed yesterday after just 22 minutes of cross-examination by George Carman QC. But there is a clear implication that the Conservatives will use the deal as a lever to gain the support of the Murdoch newspapers, which have been wooed by Labour leaders.
In a statement last night, The Times said: “The Times is pleased to confirm that it has no evidence that Mr Ashcroft or any of his companies have ever been suspected of money laundering or drug-related crimes … But he made it clear that he intended to continue as treasurer of the Conservative Party.
The settlement was intended to draw a line under the affair and it leaves The Times open to investigate Tory party funding.

Mr Ashcroft accepted that there was public interest in the funding of British politics and he intended to reorganise his affairs to return to Britain. Having a libel case dragged out through the year 2000 would not have been very good for the Conservative Party and terribly distracting for Michael.”
Costs are being paid by either party. Although there was no formal apology, Mr Ashcroft accepted the settlement because it removed the alleged question mark over his fitness to operate as the Tory party treasurer and a very substantial donor to the Conservatives.
Friends of Mr Ashcroft said there had been “give” on both sides. If this had gone to court, there is no doubt he would have won and he might have been granted £2m or £3m Michael is sufficiently wealthy for that not to be a factor. It is likely that Mr Ashcroft will give up his United Nations role as an ambassador for Belize.
A friend of Mr Ashcroft said: “This was never about the money.

One close friend of the Tory party treasurer said: “Relationships between The Times and the party are hardly normal – this enables everyone to get back to business.”
Sources refused to say last night whether William Hague, the Tory leader, had been consulted before the settlement was reached, but he is clearly hoping to end the criticism that the Tory party, by accepting Mr Ashcroft’s cheques from foreign banks, is funded from overseas. There were clear hints that the Tories were keen to settle the deal in order to restore relations with the Murdoch press. The billionaire financier Michael Ashcroft reached an out-of-court settlement last night over his libel action with The Times newspaper after securing an acceptance that he was not involved in drug-running or money-laundering.

Mr Ashcroft, a tax exile with a business and banking empire based in the Central American Commonwealth state of Belize, will return to Britain and pay taxes here as part of a move to end the attacks on his role as Tory Party Treasurer.
The deal is certain to raise speculation that Mr Ashcroft sought to avoid a damaging court battle – even though it was expected he would win it – to help secure the support of one of the Murdoch titles for the Tories in the run-up to the general election. The billionaire financier Michael Ashcroft reached an out-of-court settlement last night over his libel action with The Times newspaper after securing an acceptance that he was not involved in drug-running or money-laundering.

He still retains a 0.5 per cent interest in Tyco, worth $312m and a place on the board, for which he is paid $65,000 a year.
In Belize his interests are legion. He owns the Bank of Belize, which was granted exclusive rights to set up offshore companies for British and American citizens. He possesses dual British and Belize nationality and is Belize’s representative in the United Nations.. In 1997, he sold out to Tyco International, a United States and Bermuda-based fire and safety systems specialist, for $4bn (£2.5bn) – his share was £154m.