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The newspaper accepted he was a “wholly innocent victim” of the kidnappers subjected to a “terrifying ordeal” when he and his then girlfriend Stephanie Smith’s family were apprehended by a violent criminal gang.
He remains a paid employee of BOI but has been incapable of returng to work since the heist, he told the jury.
The case opened last week and evidence on behalf of Mr Travers concluded on Friday.
On Tuesday morning, Mr Justice Colm Mac Eochaidh was told the newspaper was not calling evidence and, just after lunch, Paul O’Higgins SC, with Jim O’Callaghan SC, for Mr Travers, said the case had settled.
In its apology read by Eoin Mc Cullough SC to the judge and jury, the newspaper said it published an article which “has been said to allege that Shane Travers had been part of a serious criminal gang that had been responsible for a €7.6m Tiger kidnapping raid on the Bank of Ireland in February 2009”.
It was headlined “€7.6m heist ‘was nothing to do with me’” with a sub-heading: “But gardaí still convinced kidnap gang had inside info on bank stash”.
The article was published within hours of Mr Travers’s release without charge on January 30th 2010 after being questioned by gardai for 48 hours about the heist at the Bank of Ireland cash centre, College Green, of February 26th/27th 2009.